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USDJPY poised into #NFP for a more bullish signal

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USDJPY poised into #NFP for a more bullish signal

A robust recovery extension Thursday, as we  had anticipated, after resilient consolidation in midweek above modest support in the 119.25/12 area.

This reinforces the late February solid rally from form support at 118.66/61 (ahead of stronger foundations at 118.28/11) and leaves a bullish tone and risk of upside challenges.

For Today:

  • We see an upside bias for 120.50; break here aims for 120.75/83, maybe 121.00.
  • But below 119.75 targets the 119.38/30 area, which we would look to try to hold.
A taster of the report above. To view the full USDJPY report with screencasts, levels and more, click here
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4 Hour USDJPY Chart

b2ap3_thumbnail_USDJPY2_20150306-062743_1.png

 

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Steve Miley is The Market Chartist and has over two decades of financial market experience with him. He spent 2009-2012 as a Director of the FX Technical Analysis Research Strategy team at Credit Suisse and was previously at Merrill Lynch for 15 years; 10 years as a technical analyst, 5 years in Fixed Income sales.


He was 2013 winner of the Technical Analyst Magazine Award for Best Independent Fixed Income Research & Strategy, Runner Up for the same award in 2014 and was the winner of Best FX Research & Strategy 2012 (at Credit Suisse).


Steve is a Member of the Society of Technical Analysts (MSTA) and holds a Masters Degree in Politics, Philosophy & Economics from Lincoln College, Oxford University.


Steve has covered all major asset classes including Rates & Credit, G10 & EM currencies, Equity Indices & Sectors and Commodities and has strong relationships across the institutional financial trading spectrum, including Central Banks, Real Money accounts, Hedge Funds and other Global Corporates.

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