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Technical Analysis Report - USD/JPY

08/08/2016 // 05:29:47 am

General outline:

The currency pair, USD/JPY  gained position on much better-than-anticipated Non-farm Payrolls in the US of A.

Present  scenario:

The pair looks strong in the market. Traders moved the dollar higher and closed in the green territory.
The resistance is observed at 102.50, the support stands at 101.40.

A buy signal is generated by the MACD indicator. RSI moved back from the oversold territory.

The instrument breached the 50 and 100 EMAs and stayed on top in the 1-hour chart. The moving averages (50, 100 and 200) direction is earthwards in the mentioned time frame.

Trading commendations:

The mood of the market is positive. The next target for the USD/JPY is the level of 102.50.
 

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