USD/JPY Forecast April 12, 2017, Technical Analysis

The USD/JPY pair had a very negative session on Tuesday, breaking below the 110 level. It now looks as if we’re going to grind our way down to the 61.8% Fibonacci retracement level, which is 108. It isn’t necessarily can be the easiest trade today, and it isn’t necessarily going to be smooth, but it appears that the sellers are in control with so many concerns around the world geopolitically, that should be enough to continue the momentum to the downside. Rallies this point are probably going to be selling opportunities until we break well above the 200-exponential moving average. - The company, employees, subsidiaries and associates, are not liable nor shall they be held liable jointly or severally for any loss or damage as a result of reliance on the information provided on this website. The data contained in this website is not necessarily provided in real-time nor is it necessarily accurate.

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