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USDJPY Technical Analysis

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Daily technical analysis based trade tips and ideas for forex USDJPY. Our report outlines clear and precise trade entry levels with profit targets and stop loss levels across a broad range of prices for the intraday. To gain an edge in the markets, successful professional traders need a daily trading plan and must be aware of important support and resistance levels. We ensure you are fully prepared to maximise profitable trading opportunities throughout each day, minimising your risk, maximising your profits and taking away the element of gambling.

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USDJPY we wrote: a very negative candle in overbought conditions as we top just below a 7 month trend line, is a good enough sell signal for me...risks are now to the downside. Minor support at 112.52/48 but below here targets 112.32/30, 112.15 & better support at 112.00/111.95. A bounce from here is likely on the first test, perhaps back up to 112.40/50...

Could not be more accurate as we bottomed exactly at 112.00/111.95 & shot higher to 112.46.
Today's Analysis
11 October 2017 Updated at 00:00am GMT
USDJPY outlook negative & failure to beat first resistance at 112.52/48 re-targets 112.32/30, 112.15 & 112.00/111.95. This is the best support again for today & a bounce back up to 112.40/50 could be repeated. However longs need stops below 111.80, with a reverse back in to shorts then the right strategy for further losses targeting 111.55/40 & perhaps as far as a strong buying opportunity at 111.10/00.

Any gains are likely to be limited now but above 112.52/48 allows a further recovery to towards 112.90/95, perhaps as far as 113.20/25. An unexpected break above 113.40/43 targets a selling opportunity at 113.75/80, with stops above 114.05.

Technical Analysis USDJPY