Many news factors affect USDJPY today such as US stocks, the S&P 500, the Dow Jones Industrial Average and Nasdaq Composite. Additionally the USD was supported by some Federal Reserve presidents who revealed another interest growth in April. USDJPY is expected to grow and reach higher ranges above 112.39 targeting 112.52 which will signal a sell opportunity at that moment that may drop to 110.71. Currently bulls are pushing the price towards the 112.52 or 112.58 level and the MA of 20 is also supporting this idea. Long positions are recommended after the 112.52 breakout otherwise go short with a target at 110.71.
Technical analysis of USDJPY dated 22.03.2016
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