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1 Apr 2015
Remain short USD/JPY, target 117.50 – GrowthAces
FXStreet (Barcelona) - The GrowthAces Research Team maintains a negative bias on USD/JPY, anticipating the pair to make a move lower towards 117.50 levels.
Key Quotes
“In our opinion the bias on the USD/JPY remains down. However slightly weaker BoJ Tankan and suggestions that the BoJ is likely to ease again may weigh on the JPY.”
“The technical situation supports our short position. The tankan and kijun lines are negatively aligned, reinforcing the bearish structure.”
“Resistance: 120.37 (high Mar 31), 121.00 (psychological level), 121.20 (high Mar 20)”
“Support: 119.42 (session low Apr 1), 119.11 (low Mar 30), 119.00 (psychological level)”
“USD/JPY: short at 119.40, target 117.50, stop-loss 120.40, risk factor ***”
Key Quotes
“In our opinion the bias on the USD/JPY remains down. However slightly weaker BoJ Tankan and suggestions that the BoJ is likely to ease again may weigh on the JPY.”
“The technical situation supports our short position. The tankan and kijun lines are negatively aligned, reinforcing the bearish structure.”
“Resistance: 120.37 (high Mar 31), 121.00 (psychological level), 121.20 (high Mar 20)”
“Support: 119.42 (session low Apr 1), 119.11 (low Mar 30), 119.00 (psychological level)”
“USD/JPY: short at 119.40, target 117.50, stop-loss 120.40, risk factor ***”