Forex Trading Library

USDJPY 11-01-2018 Intra-day analysis

Yen extends gains as investors digest BoJ's announcement

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USDJPY intra-day analysis

USDJPY (111.76): The USDJPY broke down strongly towards the downside from the triangle pattern on the daily chart. Price action is likely to eventually test lower at 110.70 which is pending a retest of support. On the 4-hour chart, USDJPY broke past the short term support at 111.61 – 111.57 region. This potentially clears the way for further declines down to 111.00 which could be tested once again. The short term outlook remains flat with USDJPY likely to trade within the new corridor.

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