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DAY 6 - USDJPY ANALYSIS

At the end of last year USDJPY rose significantly around 1700 pips, however since January 2017, we have seen some retracement of around 1000 pips.
Since last few months, this pair is ranging between 114.50 resistance and 108.10 support level. We have seen several test of support level and current price action suggest a breakout of this support level. If it happens there is plenty of downside room, as the next major support level is around 700 pips away at 101.20.
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DAY 16 - USDJPY ANALYSIS

USDJPY hit an important support level at 108.80 and we have seen instant bounce of 200 pips from this level which indicate lot of buying interest at this level. There is plenty of upside room, as the next major resistance level is around 112.20. As such I would be looking for any retracement in lower time frame such as H1 or M30 to enter long trade on this pair.
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DAY 3 - USDJPY ANALYSIS

After a massive impulsive up move of 1750 pips in last quarter of 2016 on USDJPY, this pair is slowly drifting down again and price retraced around 50%. However, there is no signs of an buying interest on this pair and current price action suggest further bearish movements on this pair.
As such best option would be to look for bearish price action on lower time frames such as hourly and sell this pair on any shallow retracement after impulsive moves with take profit target around 106.80 level.
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DAY 12 - USDJPY ANALYSIS

USDJPY is ranging between 115.30 and 111.60 level since 2nd week of January 2017. On Friday we have seen another test of the resistance at 115.30 level and instantly price was pushed lower. However current price action hint lack of selling interest, as such I am expecting price to breakout of this resistance level and go higher towards next resistance at 117.50. With FOMC interest rate decision next week it could be the driving force for an upside momentum breakout.
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DAY 8 - USDJPY ANALYSIS

USDJPY is testing an important Zone. This zone acted as support and resistance in past and as such it would be interesting to observe price action around this zone. I am expecting a test of 111.00 level first before any up move. On the contrary should the price move up up 115.00 would be ideal level to look for short opportunities.
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DAY 17 - USDJPY ANALYSIS

Fed's have finally raised rates after and as expected USDJPY moved higher. If we look at price action in last few weeks, the US dollar continued to recoup the losses suffered against the yen in the first half. It has now rallied for six consecutive weeks, and 10 of the last 12 (meaning that the dollar's move began before the election). Its current streak on the upside is longer than any streak on the downside since the US Dollar peaked in mid-2015.
The upside momentum is expected to continue and…
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DAY 6 - USDJPY ANALYSIS

After US election results we have seen change in sentiment on USDJPY and US Dollar continues to strengthen against other major currencies. From technical perspective major resistance is still far away at 121.50 and price is currently around 114.00 level, so the best option would be to look for buying opportunities on shallow retracement on lower time frames.
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DAY 15 - USDJPY ANALYSIS

US economic data continues to show improvement and we could very likely see a rate hike in December and as a result USD is going up against other majors and in particular USDJPY is flying high.
The pair is now moved up around 775 pips from the lows of 9th November 2016. If we look at Daily charts the next supply zone is around 111.50 which is around 250 pips away, so the best option would be to buy on any dips in lower time frames.
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DAY 9 - USDJPY ANALYSIS

Friday's Non-Farm Payroll numbers came below expectations and as a result we saw sell off on USDJPY and the pair dropped around 100 pips from highs of the day. From technical perspective, the pair was testing resistance around 104.15 level so some bearish reaction was expected and NFP provided that opportunity for smart money to sell into news event when volatility is highest.
In coming days, I am expecting USDJPY to drop lower towards Daily demand zone around 101.40 level where we could see som…
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DAY 18 - USDJPY ANALYSIS

Plenty of volatility is expected in coming week, as two major events are scheduled. First the Bank of Japan Monetary Policy Statement is scheduled on Wednesday followed by Federal Interest rate decision and press conference. As such USDJPY would be one of the most liquid pair to trade.
While fundamental would mainly dictate price action on USDJPY, but looking at technical aspect could provide us hint of important support & resistance levels where we could expect reversal or continuation etc. Her…
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