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AmContent 29 June, 2020

USDJPY has formed a double bottom at 105.96. A double bottom pattern is a technical analysis charting pattern that describes a change in trend and a momentum reversal from prior leading price action. It describes the drop of a stock or index, a rebound, another drop to the same or similar level as the original drop, and finally another rebound.

Jun 29 at 10:00
AmContent
AmContent The USD/JPY pair witnessed some follow-through selling for the third consecutive session on Thursday and retreated further from multi-month tops set last week.

The ongoing downward trajectory to near two-week lows has now dragged the pair below the 109.70 support zone – a previous strong horizontal resistance breakpoint.

Jan 23 at 14:07
AmContent
AmContent 24-hour view: “While USD closed at an 8-month high of 110.14, upward momentum has not improved by all that much. That said, there is scope for USD to continue to edge higher towards 110.40 (next resistance is at 110.65). Only a move back below 109.85 would indicate that the current mild upward pressure has eased (minor support is at 110.00).
Jan 17 at 10:12
AmContent
AmContent On the downside, a breach of 109.45 would indicate the current USD strength has run its course”.
Jan 17 at 10:13
AmContent
AmContent January 14th, 2019

USDJPY has broken the @109.68 ceiling after a double bottom was formed at @109.90.The pair has entered a phase of bullish consolidation. U.S has the consumer price index announcement today. A higher read would impulse bulls to push the price higher.

China pledged to purchase $80 billion of the US goods over the two years in the phase one of the trade deal. Therefore market sentiment is bullish oriented.

Jan 14 at 07:41
AmContent
AmContent As I am writing the U.S dollar cling to the resistance (red upward trend line). The market likely slow down it pace or reverse at this stage.
Jan 08 at 15:59
AmContent
AmContent USDJPY
January 7, 2020
We are witnessing an inside candle forming today January 7, 2020. An inside bar is formed when price trades within the high and low range of the previous day, making the candle an inside day or an inside bar. This could indicate to trend reversal pattern, and another surge to uptick levels seems to be possible in the upcoming days.

In a bearish technical standpoint, a price leak of @108.24 deck would lead the bears to push the currency pair all the way down to October 2019 low at @106.49.

Jan 07 at 09:08
AmContent
AmContent January 2, 2020

USD/JPY continues under stress while trading nearby 108.70 during early Thursday. The currency pair lately slid under an upward askew trend line (in red color). Being above the said sloppy trend line indicates a bullish market and the price likely soar to @109.68 resistance.

On the contrary, @108.43 is the key support. In case of a breach, the quote would fall to test @108.28, @108.24 and @107.89 decks.

Jan 02 at 06:44
 
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