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USD/JPY: Technical Analysis On 24-03-2016
Home / USD/JPY: Technical Analysis On 24-03-2016

 
The daily candlestick closure below 112.75 hinders further bearish trend and enhances the bullish side of the market from the level of 112.75 till 113.05
 
USD/JPY has been trading upward in H1, H4 and D1 graph. The recent daily candlesticks are also showing a strong bullish trend of the market according to the daily time frame.
 
This pair is enhancing the bullish trend of the market and this continuation is expected even today from 112.75 to 113.05.  So, it is a profitable zone. 
 
RSI and Bollinger Bands in H1, H4 and D1 graph are showing strong bullish trend of the market. Parabolic SAR is also leading to a bullish trend of the market.
 
SMA 30, SMA 50 and SMA100 are shuffling and representing that market will move into upward direction. Selling looks risky today according to my views.
 
Trading Recommendations: 
 
Buy: 112.75, Take Profit 113.05, Stop Loss 112.45, and Break out sell 112.35
 
Support Levels:
 
S1 112.68
S2 112.60
S3 112.53
 
Pivot Point     (112.75)
 
Resistance Level:
 
R1 112.83
R2 112.90
R3 112.98

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