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USD/JPY Intraday Analysis

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02-19-2009, 06:21 AM

Mataf

Senior Member

Join Date: Feb 2009

Posts: 11

USD/JPY Intraday Analysis

93,48. USD JPY is in an uptrend supported by 1H exponential moving averages. USD JPY is in a consolidation after the last bullish movement. The volatility decreases. Bollinger bands are tightened. ForexTrend 1H, 4H (Mataf Trend Indicator) is in a bullish configuration. 4H ForexSto (Modified Stochastic) indicate a bullish pressure on USD JPY. The price should find a resistance below 94,30 (82 pips). The consolidation should continue.
We won't take a position. The actual configuration is not clear enough to follow the trend.

Resistances
94,00 - 94,30

Supports
93,25 - 92,75

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