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Thursday, August 29, 2013

USD/JPY TECHNICAL ARTICLE ON AUGUST 29





USD/JPY is one of the high volatile currency pair in forex. It is proved by the daily fluctuations that occurs in this pair. The “buy” market has been showing for the two days and the USD has gained 120+ pips. 

In this scenario, the market is sailing towards the overbought condition. The overbought will be achieved in the resistance of 99.036 and until then, the market belongs to the USD trend.

The further contribution will be provided by the upcoming news releases to the favor of the USD. Not only with JPY, the USD has gained with most of the pairs, especially with AUD, GBP and NZD. 

A good trend can be expected at the time of news releases and somehow, the traders are possible to gain around 50+ pips. The fundamental and technical indicators are merging with the trend, so there will be a great hope to attain 50+ pips.

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