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Farooq

Technical Analysis – USDJPY _ 18-02-2019

HomeTechnical AnalysisTechnical Analysis – USDJPY _ 18-02-2019
18
Feb
Technical Analysis – USDJPY _ 18-02-2019

Weak trading around the uptrend line shown on the 4 hour chart and the highest support area 110.10 – 109.90 … The pair is currently supported by the SMA 50 …

The possible bullish scenario remains intact as long as trades remain above 109.75 and the pair could resume its first target at 110.90 then 111.70 as a second target and then 112.50 as a third target.

A break of 109.75 with a four-hour closing might be enough to end the bullish scenario and the price could then head to 109.10 as the first target and then 108.45 as the second target.


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