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USDJPY near the target – Analysis - 02-08-2016
The USDJPY pair settles near 102.00 level after the sharp decline that appeared by the end of last week, to continue trading inside the bearish channel that appears on chart, waiting to test 100.70 level that represents the current main target of the bearish wave, reminding you that breaking this level will extend the pair's losses to reach 94.76.
Therefore, the bearish bias will remain expected for the upcoming period supported by the negative pressure that the EMA50 continues to provide, reminding you that it is important to hold below 106.63 level to continue the expected decline.
Expected trading range for today is between 100.70 support and 103.00 resistance.
Expected trend for today: Bearish
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GBPUSD declines calmly – Analysis - 02-08-2016
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