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August 12, 2014

USD/JPY Daily forex post August 12, 2014

Posted by: ffs @ 03:25 GMT Category: Daily Forex,Signals,USD/JPY

USD/JPY Technical view

Updated:  August 12, 2014 3:25:23 GMT
SPOT USD/JPY Previous day OHLC
Open High Low Close Change
102.05 102.22 101.99 102.18 0.14
Today's Support and Resistance
Resistance
Support
R3 103.10
R2 102.70
R1 102.50
S1 102.10
S2 101.80
S3 101.60

The dollar edged higher versus the yen, to settle at 4- session highs. The near term view remains bullish with the gains likely to extend to 102.70- 103.00, where they are likely to be capped. On the downside, the dollar could slide to the bottom end of the short and medium term bullish channels at 101.80 and 101.20 correspondingly, unless we see a close above 103.10

Trend direction

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

Trading Recommendations

  • Short:

    • Short the pair at 102.70 with stops at 102.95 for targets of 101.90
  • Long:

    • N/A
Post ID: 9814
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