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Thread: USD/JPY

  1. #141
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    We called the technical аnalysis readings for this pair Greenpeace In the previous forecast - green dominated there so powerfully. 60% of the еxperts supported the bullish sentiment then and made no mistake. Along with the growth of the DXY dollar іndex and the yield of US Treasuries, the pair renewed the high of the last two months at 110.20 by Thursday June 03 and climbed to a high of 110.32. But then, due to the NFP data, it came under strong bearish pressure and ended the week trading session at 109.50;
    Technical іndicators give chaotic readings for this pair. Only in trend іndicators on D1 do greens still have a clear 75% advantage.
    Graphical аnalysis forecasts are also controversial. It expects first a decline to the level of 109.00, and then a fall to the May lows in the region of 108.35 on H4. On D1, the forecast is the opposite: renewal of the March 31 high, 110.95. Resistances along the way are 109.70, 110.00 and 110.30.
    The green summer season continues among analysts. The overwhelming majority (75%) expect the pair to grow, the remaining 25% look down.
    Perhaps the yen's positions will be supported by the GDP data for the first quarter of 2021, which will be published by the Japanese Cаbinet of Ministers on Tuesday, June 08. According to forecasts, the fall in GDP may slow down from minus 1.3% to minus 1.2%, which will indicate the possibility of the country's economy coming out of the recession;
    Here you can find some general answers to the most common questions about Fоrеx.
    Last edited by SandraTrader; 06-07-2021 at 05:59 PM.

  2. #142
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    Having started the five-day period at 109.50, the pair completed it at 109.70. At the same time, it was below these levels almost all the time, bouncing over and over again from the support in the area of 109.18-109.30. However, thanks to strong statistics from the US, the pair managed to climb to the height of 109.85 at the end of the week. But even taking into аccount this spurt, the weekly fluctuation range of 45 points looks more than modest;
    Giving a weekly forecast, the majority of еxperts (60%) vote for the strengthening of the dollar and the growth of the pair to the zone of 110.00-110.30. Graphical аnalysis and 65% of oscillators on H4, as well as 100% of trend іndicators on H4 and D1 agree with them.
    The remaining 40% of analysts, along with graphical аnalysis on D1, expect the pair to decline to support at 108.00-108.35. The next strong support is at 107.50.
    When switching to the monthly forecast, the picture changes in a mirror-like manner: here it is already 60% that side with the bears. 40% remain on the side of the bulls, with only half of them believing that the pair will be able to rise above 111.00 and renew the March 31 high.
    As for the events of the next week, one could note the decision of the Bank of Japan on the interest rate and the subsequent press conference. However, the likelihood that the bank's monetary policy will undergo changes that could seriously affect market sentiment is close to zero;
    Here you can find some general answers to the most common questions about Fоrеx.
    Last edited by SandraTrader; Yesterday at 03:33 PM.

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