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Technical Analysis Report - USD/JPY

20/09/2016 // 07:30:35 am

General outline:

The dollar lost grounds against the yen ahead of the Fed and BoE’s meetings this Wednesday.

Present Scenario:

The neutral phase that started last week is still intact. The price traded within a broad range between 101.40 and 102.50. The moving averages are neutral in the 4 hours chart. The resistance is at 102.50, the support comes in at 101.40.

MACD entered the negative area. MACD slightly decreased which confirms the strength of sellers. RSI is approaching oversold area.

Trading commendations:

Or analysts prefer to stay neutral for now. We believe the price will continue sideways trades ahead of the Fed meeting this Wednesday.

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