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[QUOTE="Antony_NPBFX, post: 197179, member: 38727"] [size=5][b]USD/JPY: USD falls ahead of the publication of the Fed's Minutes 7.07.2021 [/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] USD shows a moderate decline against JPY in trading in Asia, updating local lows since June 22. The development of the "bearish" trend for the instrument is facilitated by yesterday's publication of uncertain macroeconomic statistics from the US, which turned out to be worse than market expectations. The data reflected a further decline in business activity in the services sector in June, although it is still at a fairly high level. In turn, JPY rose slightly after the publication of data from Japan. In May, Labor Cash Earnings increased by 1.9% YoY, accelerating from +1.4% YoY. Experts expected a slowdown to +1.3% YoY. But today's statistics from Japan turned out to be negative. Leading Economic Index in May slowed down from 103.8 to 102.6 points, and Coincident Index corrected from 95.3 to 92.7 points. [b] Support and resistance [/b] In the D1 chart, Bollinger Bands are reversing horizontally. The price range is narrowing, pointing to the appearance of multidirectional dynamics of trading in the short term. MACD is going down, keeping a fairly stable sell signal (located below the signal line). Stochastic is showing similar dynamics; however, it is rapidly approaching its lows, which signals the risks of an oversold USD in the ultra-short term. Resistance levels: 110.81, 111.00, 111.34, 111.70. Support levels: 110.38, 110.18, 109.83, 109.29. [img]http://businesspr-finance.com/wp-content/uploads/2021/07/USDJPY070721-33.png[/img] [img]http://businesspr-finance.com/wp-content/uploads/2021/07/USDJPY070721-333.png[/img] [b] Trading tips [/b] To open new short positions, one can rely on the breakdown of 110.38. Take-profit – 109.83. Stop-loss – 110.70. Implementation time: 1-2 days. A rebound from 110.38 as from support followed by a breakout of 110.81 may become a signal for new purchases with the target at 111.34. Stop loss – 110.50. [b]Use more opportunities of the NPBFX analytical portal: E-book[/b] If you just recently started to be interested in trading on FOREX and would like to deepen your knowledge, an electronic Beginner's Guide to FOREX Trading will be an excellent helper for you here. The book consists of 5 chapters and reflects fundamental concepts of the foreign exchange market to start successful trading. From the main chapters of the E-book you can learn about the concepts and history of FOREX, currencies and trend lines, technical indicators, types of orders, trading on news, psychology of trading, risk management and much more. You can read a Beginner's guide to FOREX Trading online or download it free of charge from the NPBFX analytical portal in the "Education" section. In order to get unlimited access to the E-book and other useful instruments on the portal, you need to register on the NPBFX website. 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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