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USDJPY Positive Tone Friday for 119.42, maybe 119.88

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USDJPY Positive Tone Friday for 119.42, maybe 119.88

A modest dip and solid bounce Thursday for a consolidation tone, but a still positive bias from the Tuesday-Wednesday rebound from the 118.15/11 support area, through notable resistance at the 119.20/27 pivotal area to leaves risk higher for latter February.

For Today:

 

  • We see an upside bias through 119.18 for 119.42; break here now aims for 119.88.
  • But below 118.57 opens risk down through 118.43, maybe for 118.23/15/11, 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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2 Hour USDJPY Chart

b2ap3_thumbnail_USDJPY2_20150220-064139_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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