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Sunday, May 27, 2018

|>> New Forex Analysis by FX for Dummies May 27, 2018 at 04:07PM :

" Based on last week’s price action, the direction of the USD/JPY is likely to be determined by trader reaction to the 50% level at 109.137. A sustained move over 109.137 will indicate the presence of buyers. This could lead to a labored rally with targets at 109.664 and 110.019. We could see an acceleration to the upside if 110.019 is taken out. The major targets are 110.859 and 111.396. A sustained move under 109.137 will signal the presence of sellers. This could trigger a move into 108.641 and 108.604. This area is very critical to the chart structure. If 108.604 fails as support then the trend will change to down. This could trigger an acceleration into the main retracement zone at 107.998 to 107.196. "

 

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