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Trading Outlook – USD/JPY
Posted On 19 Nov 2014
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Originally updated: 06:10am
Currency Pair: USD/JPY
Sentiment: Bullish
Market focus:
In today’s trade set up we will be focussing on short term buying opportunities on the USD/JPY.
Fundamentals:
The USD/JPY continued on its one way street over- night hitting a seven year high after Japan’s Prime Minister called a snap election and delayed the sales-tax hike.
Technicals:
We have a nice confluence zone at 116.65-116.45. This should offer short term support for any pullback.
Stop loss could be placed at 116.20
Take profit target: Open
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