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USD/JPY: Technical Analysis On 15-03-2016
Home / USD/JPY: Technical Analysis On 15-03-2016

 
The daily candlestick closure above 113.40 hinders further bullish trend and enhances the bearish side of the market from the level of 113.40 till 113.00
 
USD/JPY has been trading downward in H1, H4 and D1 graph. The recent daily candlesticks are also showing a strong bearish trend of the market according to the daily time frame.
 
This pair is enhancing the bearish trend of the market and this continuation is expected even today from 113.40 to 113.00.  So, it is a profitable zone. 
 
RSI and Bollinger Bands in H1, H4 and D1 graph are showing strong bearish trend of the market. Parabolic SAR is also leading to a bearish trend of the market.
 
SMA 30, SMA 50 and SMA100 are shuffling and representing that market will move into downward direction. Buying looks risky today according to my views.
 
Trading Recommendations: 
 
Sell: 113.40, Take Profit 113.00, Stop Loss 113.70, and Break out sell 113.80
 
Support Levels:
 
S1 113.17
S2 113.02
S3 112.82
 
Pivot Point     (113.37)
 
Resistance Level:
 
R1 113.52
R2 113.72
R3 113.87

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