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USD/JPY Technical Analysis For 2nd October 2015, H4

02 October 2015, USD/JPY

Technical View:
USD/JPY is currently trading with a bearish bias. The pair continues to trade within the range 121.61, and 118.44, even after, GBP, a negatively correlated pair crossed below a key pivot area. As long as the pair trades within this range, short positions are encouraged along 121.61, and long positions along 118.44. Any clear movements above this levels will signal a break of the range, thus execute a trade following the direction of the breakout. This pair is strongly positively correlated to NZD/JPY, and GBP/JPY, thus only buy or sell USD/JPY, if the other positively correlated pairs are giving the same signal.

Trade Recommendations:

As long as the pair trades within this range, short positions are encouraged along 121.61, and long positions along 118.44. Any clear movements above this levels will signal a break of the range.

Graham Osano
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