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Technical Analysis Report - USD/JPY

30/08/2016 // 07:36:03 am

General outline:

The US currency rose to the 2-week high supported by new expectations that the Fed will increase the rates in September.
Japanese stocks supported the dollar as well.

Present Scenario:

The currency pair, USD/JPY moved higher and stretched its gains on Monday. The resistance is observed at 102.50, the support stands at 101.40.

MACD  remains in the positive area. The histogram grew  indicating the buyers’ strength. RSI is in the overbought area. A buy signal is generated by both the indicators.

 Trading commendations:

Analysts remain bullish expecting a growth towards 102.50 resistance area.

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