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Technical Analysis
TECHNICAL ANALYSIS BY NSFX 09.02.2016
HIGH: | LOW:
A consolidation below 116.00 could open the doors for more declines. USDJPY has taken trend line support at 114.80 and edged higher to currently trade at 115.76 levels. The pair took out major support as it fell 230 pips from the highs.
TECHNICAL ANALYSIS BY NSFX 09.02.2016
HIGH: | LOW:
Key levels over the next few days look to be the 78.6% retracement of the late January advance near 29.00, the closing low of the year around 28.20 and of course the year-to-date low at 27.53.
TECHNICAL ANALYSIS BY NSFX 09.02.2016
HIGH: | LOW:
Friday’s engulfing candle signals a top and provides reason for us to re-establish a bearish view. Currently 0.7087 finding some steady dip support. This pair is currently in consolidation on a higher time frame and this is when we usually see these advanced patterns.