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Perhaps, rebound from the level of 122.66

20 November 2015, USD/JPY

Daily chart: Still Northern orientation of the pair. Support is at the middle Bollinger band (122.10), possible target - 124.16 (the upper band)

Н4: bearish divergence of oscillator, therefore, after touch of the upper Bollinger band zone (123.67) we can expect decline to 122.10. It is unlikely that this will happen in one day, because ADX parameters are very weak.

Н1: intraday support levels and resistance 122.66 \ 123.05

Expectations: touch 122.66 and an upward rebound to 123.05

solutions: purchase from 122.66 to 123.05

Aleksey Panasenko
FreshForex Analyst
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