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NPBFX - making money with us since 1996!
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[QUOTE="Antony_NPBFX, post: 189693, member: 38727"] [SIZE=5][B]USD/JPY: the instrument consolidates 04.01.2021[/B][/SIZE] Good afternoon, dear forum visitors! [URL=https://www.tb.marketinstructor.com/?referer1=earnforex.com]NPBFX[/URL] offers the latest release of analytics on USD/JPY for a better understanding of the current market situation and more efficient trading. [B]Current trend [/B] Today during the Asian session, the USD/JPY pair is slightly declining, testing the support level of 103.00 for a breakdown. The US dollar is not expected to be in demand in the first hours of the new trading calendar year, reacting to the previous negative factors. At the end of December, the administration of the incumbent US President Donald Trump was able to agree on the details of a new financial support plan for the American economy, which is in a difficult situation due to a difficult epidemiological situation. USD is now facing a change of power but analysts say President-elect Joe Biden's initial course is unlikely to change much. At the beginning of the week, JPY was slightly supported by positive national macroeconomic statistics. Thus, the Jibun Bank Manufacturing PMI rose from 49.7 to 50 points. [B]Support and resistance [/B] On the daily chart, Bollinger bands moderately decline. The price range changes insignificantly, however, not as fast as the “bearish” dynamics develop in the short term. MACD falls, maintaining a relatively strong sell signal (the histogram is below the signal line). Stochastic falls, rapidly approaching the level of 20, which may indicate that USD may become oversold in the ultra-short term. The current readings of technical indicators do not contradict the further USD decline in the next time intervals. Resistance levels: 103.25, 103.39, 103.64, 103.90. Support levels: 103.00, 102.80, 102.50. [img]http://businesspr-finance.com/wp-content/uploads/2021/01/USDJPY04012020-33.jpg[/img] [img]http://businesspr-finance.com/wp-content/uploads/2021/01/USDJPY04012020-333.jpg[/img] [B]Trading tips [/B] Short positions may be opened after the breakdown of 103.00 with the target at 102.50. Stop loss – 103.25. Implementation period: 2–3 days. Long positions may be opened after the rebound from 103.00 and the breakout of 103.25 with the target at 103.64. Stop loss – 103.00. [B]Use more opportunities of the NPBFX analytical portal: economic indicators [/B] Regular monitoring of global economic indicators plays an important role in trading, because of their strong influence on FOREX market and possibility to provoke significant price fluctuations. For the convenience of traders the "Education" section on the NPBFX portal contains the most popular and significant world economic indices with a detailed description, their possible impact on the economy and exchange rates (GDP, consumer price index, unemployment rate, Nonfarm Payrolls (NFP), etc.). If you have any questions about trading instruments, you can always ask an analyst in the online chat on the portal and get a free consultation of an experienced specialist. Use the current recommendations of analysts on USD/JPY and trade efficiently with [URL=https://my.npbfx.com/register/?utm_campaign=register&utm_medium=forumpost&utm_source=earnforex.com]NPBFX[/URL]. [/QUOTE]
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