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August 8, 2014

USD/JPY Daily forex post- US session August 8, 2014

Posted by: ffs @ 13:51 GMT Category: Daily Forex,Signals,USD/JPY

USD/JPY Technical view

Updated:  August 8, 2014 13:51:18 GMT
SPOT USD/JPY Previous day OHLC
Open High Low Close Change
102.09 102.46 101.97 102.09 0.00
Today's Support and Resistance
R3 102.80
R2 102.50
R1 102.30
S1 102.00
S2 101.70
S3 101.20

The dollar is off the session lows versus the yen, but continues to remain weak in the near term. The pair is likely to test key trendline supports at 100.90- 101.20 before rebounding to 102.80- 103.00. Long on declines leading to the supports

Trend direction

  • Short term: Bearish
  • Medium term: Bullish
  • Long term: Bearish

Trading Recommendations

  • Short:

    • N/A
  • Long:

    • Long the dollar at 100.90 with stops at 100.50 for targets of 102.00
Post ID: 9786
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