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USDJPY will be under pressure

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Resistance and support lines, Trend lines, Price action, Candlestick Pattern, MACD, RSI, Simple Moving Average and Stochastic Fast Indicator, Rectangle
USDJPY Weekly Chart
  • The MACD on the weekly chart has entered the positive zone. The histogram suggests the mixed scenario as the histogram is positive but MACD is falling.
  • The RSI is at 57.19 and headed downward.
  • The Stochastics is headed South.
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Elens94 avatar
Elens94 18 Jan.

good!

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AUDUSD making Head and Shoulder on Daily chart

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Resistance and support lines, Trend lines, Price action, Candlestick Pattern, MACD, RSI, Simple Moving Average and Stochastic Fast Indicator, Rectangle
AUDUSD Weekly Chart
  • The MACD on the weekly chart has entered the positive zone. The histogram suggests the buyers taking control of the market.
  • The RSI is almost vertical and headed high and shows the strength of the pair.
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killer195175 avatar

UPDATE-2
The pair has managed to make a high of .7731 and got rejected from the same level. Now a downside is open but the pair seems to hold as of now and the pair is trading at .7678 at the time of writing this post. If the Australian dollar holds its strength then our target of .7730 is not far. Let us see what happens tomorrow.

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The pair moved very quickly to the downside and made a low of .7664. The further downside seems possible. Our target of .7730 seems very far.

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UPDATE-5
Now only a bad data from United states on Monday can make our targets meet. Let us see how the data comes. But I expect a good data from America. So the chances of hitting the target are less.

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UPDATE-6
The pair is trading almost 55 pips below our target price of .7730 at .7675 at the time of writing this post. A positive news flow from Australia may take us near to the target. But it is just a speculation. Let us see how the things unfold tomorrow.

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UPDATE-7
After shedding around 77 pips from the high of .7738, the pair has managed to close above .7680 on the hourly timeframe. If the price closes above .7690 today then we can see the .7730 levels tomorrow at 1200 GMT.

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AUDJPY to travel in the channel

Technical Tools
Resistance and support lines, Trend lines, Price action, Candlestick Pattern, MACD, RSI and Stochastic Fast Indicator
AUDJPY Weekly Chart
The pair has started the year 2017 on a strong note and has reached from 84.27 to 85.81 at the time of writing this post.
AUDJPY Daily Chart
The pair is obviously in an uptrend but the recent price action suggests a correction which is occurring in the form of a channel formation. I expect this correction to continue until the end of Februa…
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