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[QUOTE="Antony_NPBFX, post: 200026, member: 38727"] [size=5][b]USD/JPY: statistics from Japan could not support quotes 04.10.2021 [/b][/size] Good afternoon, dear forum visitors! [url=http://www.npbfx.com/?utm_campaign=company&utm_medium=forumpost&utm_source=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 corrective gains against JPY in Asian trading, again trying to consolidate above the psychological level of 111.00. USD retreated from record highs since February 2020 last week after a strong rally fueled by the growing confidence of traders that the US Fed will resort to reducing the quantitative easing program before the end of this year. In addition, investors avoided unnecessary risks associated with the Japanese prime minister's election, which was won by the leader of the Liberal Democratic Party, Fumio Kishida, who now has to determine the composition of the government. Last Friday's macroeconomic statistics from Japan was moderately optimistic. Tankan Large Manufacturing index increased from 14 to 18 points in Q3 2021, while analysts expected it to decline to 13 points. Consumer Confidence Index in September strengthened from 36.7 to 37.8 points, which also turned out to be better than investors' forecasts at 37 points. The Unemployment Rate in August remained at 2.8%, contrary to forecasts of growth to 2.9%. [b] Support and resistance [/b] Bollinger Bands in D1 chart show stable growth. The price range is narrowing, reflecting the flat dynamics of trading in the short term. MACD reversed towards declining, having formed a new sell signal (located below the signal line). Stochastic keeps a confident downward direction but is already approaching its lows, which indicates the risks of oversold USD in the ultra-short term. Resistance levels: 111.10, 111.34, 111.70, 112.00. Support levels: 110.87, 110.68, 110.29, 110.00. [img]http://businesspr-finance.com/wp-content/uploads/2021/10/USDJPY041021-33.png[/img] [img]http://businesspr-finance.com/wp-content/uploads/2021/10/USDJPY041021-333.png[/img] [b] Trading tips [/b] To open long positions, one can rely on the rebound from the support level of 110.87 with the subsequent breakout of 111.10. Take-profit – 111.70. Stop-loss – 110.87. Implementation time: 1-2 days. The breakdown of 110.87 may serve as a signal to new sales with the target at 110.29. Stop-loss – 111.20. [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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