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13.07.201809:01 Forex Analysis & Reviews: Ichimoku cloud indicator analysis of USD/JPY for July 13, 2018

Long-term review

The USD/JPY is challenging important long-term resistance. The weekly close will be very important. The USD/JPY is challenging the long-term resistance trend line coming from 125.60 back in 2015, that has already been tested 6 times the past years and got rejected.

Exchange Rates 13.07.2018 analysis

Blue line - long-term resistance

Red line - long-term support

The USD/JPY is also challenging weekly cloud resistance here at 112.60-112.70 area. Will the USD/JPY break above this huge triangle pattern? At current levels, traders should better be patient and neutral than chase long positions in USD/JPY.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Alexandros Yfantis,
Analytical expert of InstaForex
© 2007-2021
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