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USD/JPY facing a strong trend line resistance

Ucef Posted 31 Oct. as Analysis on USD/JPY, Target: 120.0000, Date: 1st of December, 12:00 GMT  in #Technical analysis #Resistance #Patterns #USD/JPY #Breakout #Bullish #Harmonic Trading #Reversal Pattern #Uptrend
Daily analysis

USD/JPY facing strong trend line resistance around 121.50 (trend line joining 121.22 and 121.48) and any break above confirms further bullishness, jump till 122.40 is possible.
On the downside minor support is around 120.98 and break below will drag the pair till 120.50/120.30/119.95 in short term.
Further weakness can be seen only below 119.60.
It is good to buy only above 121.50 with SL around 120.98 for the TP of 122.40/123.10.
weekly analysis
USD/JPY opened the week at 119.30…
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EUR/USD forming a bullish harmonic pattern

Ucef Posted 31 Oct. as Analysis on EUR/USD, Target: 1.1100, Date: 1st of December, 12:00 GMT  in #Technical analysis #Resistance #Patterns #Breakout #EUR/USD #Harmonic Trading #Reversal Pattern #Uptrend #Bullish Trend
Daily analysis
EUR/USD has broken trend line resistance around 1.1010 (trend line joining 1.0975 and 1.09846) and break above confirms bullishness, a jump till 1.1095/1.1125 is possible .
The pair's minor resistance are around 1.1038/1.1070
On the downside minor support is around 1.0950 and break below targets 1.0920/1.0900 level.
Further weakness only below 1.0850, It is good to buy at dips around 1.0985-990 with SL around 1.0945 for the TP of 1.1038/1.1070/1.1095.
weekly analysis
A …
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Long-Term Reversal Also a Short-Term Range

Ucef Posted 30 Sep. as Analysis on USD/JPY, Target: 121.9240, Date: 2nd of November, 12:00 GMT  in #Technical analysis #USD/JPY #Support Line #Fibonacci Levels #Retracement #Uptrend
Weekly :
USDJPY is captured between two ranges:
- Range 120 - 119.70
- The wedge pattern
The main reason why USDJPY cann't rally while other pairs go up is that:
- Investors still sell stock and hesitate in buying it.
The fear that FED would hike rate leading to higher borrowed cost make investors worry to continue buy equity.
However, I don't think higher borrowed cost is a big problem.
If FED hike rate by 1% : That is a big deal, but 25bp is not a big deal. As US economy still perf…
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