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May 17

TECHNICAL ANALYSIS BY NSFX 17.05.2015

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High:  Low: 

UsdJpy started to trade 2 months ago in a 150 pips range and have not made a breakout yet. This price compression is showed by the ATR as well: the indicator at 0.6314 is at its 6 month low. Above 120.62 the rate can test 121.88 and above this double top UsdJpy can test 125. If UsdJpy should slide below 118.49 it might test the 200SMA, now at 117, and below this level there is a significant static support at 115.78.

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