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Bandarsq
Feb 8, 2016 9:43 PM

USDJPY Major Support Level Breakout - Daily Short

U.S. Dollar/Japanese YenFXCM

Description

Targets 110.

Trade closed: target reached

Target almost reched
Comments
FractalEyeZ
Yeah, after 110 I believe 106 will be the next target to the downside whih is the measured move of the Head & Shoulders pattern from Head to Neckline.
FractalEyeZ
Also watch the S&P500 because if it also breaks and falls further then the USD/Yen will drop like a rock especially if the market panics and goes strong with the safe haven flows of the Yen.
Bandarsq
Yes I agree on the H&S patter, not a perfect one but it's there.
moorekapital
A pinch , or a break ;)
Bandarsq
It looks a break on weekly :)
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