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hello everyone ..
usdjpy pair appears to be making another attempt to break out of the downward trend carried over from 2016 as it grinds towards the June-high (111.71), with the Relative Strength Index (RSI) highlighting the risk for a further advance in the exchange rate as the oscillator clears the bearish formation from May and turns around ahead of oversold territory.A break/close above the topside hurdle around 111.10 (61.8% expansion) to 111.60 (38.2% retracement)should open up the Fibonacci overlap around 112.40 (61.8% retracement) to 112.80 (38.2% expansion), with the next area of interest coming in around 113.80 (23.6% expansion) to 114.30 (23.6% retracement), which largely lines up with the May-high (114.37).
happy trading guys ,,
usdjpy pair appears to be making another attempt to break out of the downward trend carried over from 2016 as it grinds towards the June-high (111.71), with the Relative Strength Index (RSI) highlighting the risk for a further advance in the exchange rate as the oscillator clears the bearish formation from May and turns around ahead of oversold territory.A break/close above the topside hurdle around 111.10 (61.8% expansion) to 111.60 (38.2% retracement)should open up the Fibonacci overlap around 112.40 (61.8% retracement) to 112.80 (38.2% expansion), with the next area of interest coming in around 113.80 (23.6% expansion) to 114.30 (23.6% retracement), which largely lines up with the May-high (114.37).
happy trading guys ,,