USDJPY Weakens Further With Eyes On 111.00

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USDJPY: The pair continues to hold on to its downside pressure closing lower on Wednesday and opening the door for more declines

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7/19/2017 1 FXTechstrategy Currency Technicals Daily Technical Research www.fxtechstrategy.com USDJPY Weakens Further With Eyes On 111.00 Zone Gives You A Trading Decision Edge Thursday Jan 20 ’17 Highlights:

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7/19/2017 2 FXTechstrategy FXT Technical Strategist Plus USDJPY Weakens Further With Eyes On 111.00 Zone USDJPY: The pair continues to hold on to its downside pressure closing lower on Wednesday and opening the door for more declines. On the downside support comes in at the 111.50 level where a break if seen will aim at the 111.00 level. A cut through here will turn focus to the 110.50 level and possibly lower towards the 110.00 level. On the upside resistance resides at the 112.50 level. Further out we envisage a possible move towards the 112.00 level. Further out resistance resides at the 111.50 level with a turn above here aiming at the 111.00 level. On the whole USDJPY looks to pullback further in the days ahead. GBPUSD

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f 7/19/2017 4 FXTechstrategy Index Technicals Glossary Of Technical Analysis Terms Used LT - Denotes the Long-term trend and refers to the overall direction of price action greater than 6 months ST - Denotes the short-term trend and refers to the overall direction of price action from 3 – 6 weeks MT- Denotes the medium-term trend and refers to the overall direction of price action from 3 – 6 months NT - Denotes the near-term trend and refers to the overall direction of price action from 1 – 3 weeks Support - Support is a price level where buying pressure exceeds selling pressure and a decline is brought to an end. Resistance - Resistance is a price level where selling pressure exceeds buying pressure and a rally is brought to an end Trend- Simply means the direction a market is moving Uptrend – An uptrend is determined by a series of higher highs and higher lows. While each successive peak is higher than the previous peak and each successive low is higher than the prior low the trend is up. Downtrend - A downtrend is the opposite of an uptrend defined by a series of lower highs and lower lows. Stochs – Stochastics is a momentum study/indicator which helps in identifying overbought or oversold conditions during various trend phases. It serves to highlight the increased prospect of a potential price correction or trend reversal. RSI –Relative Strength Index is also a momentum study/indicator which helps in identifying overbought or oversold conditions during various trend phases. It serves to highlight the increased prospect of a potential price correction or trend reversal. Psych Level- Denotes psychological levels which are round numbers such as 1000200050200 etc and are very significant in the forex market. They can act as support and resistance levels and can be used as price targets for profit taking.

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f 7/19/2017 5 FXTechstrategy Index Technicals This report is prepared solely for information and data purposes. Opinions estimates and projections contained herein are those of FXTechstrategy.com own as of the date hereof and are subject to change without notice. The information and opinions contained herein have been compiled or arrived at from sources believed to be reliable but no representation or warranty express or implied is made as to their accuracy or completeness and neither the information nor the forecast shall be taken as a representation for which FXTechstrategy.com incurs any responsibility. FXTstrategy.com does not accept any liability whatsoever for any loss arising from any use of this report or its contents. This report is not construed as an offer to sell or solicitation of any offer to buy any of the currencies referred to in this report. Click here for full disclaimer Disclaimer

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