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Technical Analysis Report - USD/JPY

19/08/2016 // 03:02:17 am

General outline:

The currency pair USD / JPY saw a dip to a new level of support JPY99.90, ending yesterday's technical pullback upwards during the Asian session. In the month of July, Japan's trade surplus accounted  to be 514 billion, which is almost twice greater than the anticipated - 248 billion. Japan imports volume (y/y) decreased by -24.7%, while an expectation was a decline of -20.6%.


Present scenario:

The pressure started weighing on the Japanese currency.  The next support level is expected to be a local minimum at JPY98.93.

Trading commendations:

The mood of the market is bearish at the moment and is trading at local lows .  If the pair breaches the level JPY99.90 , the pair will dip to new lows.
 

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