USD/JPY Analysis - page 63

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USD/JPY made good rally today and currently is pressuring the February’s high at 110.48, which could be a possible breakout point.

 
The pair pulled back from 110.45 and I think there may be some correction to 109.70.
 
Japan’s GDP shrunk by -0.6% on an annualized basis in the first quarter. This undershot the already weak forecast of -0.1% by a sizable margin. The biggest drags on growth were sluggish household consumption, which was unchanged in 1Q, and a surprising -0.1% QoQ fall in capital spending. As a result, private domestic demand declined at an annualized rate of almost -1%. This is comparable with the slump seen in 3Q 2016. 
 
The pair is still bullish, it may even reach 111.00, I think.
 

USD/JPY continues to advance and is marking fresh monthly high. The price is developing above its firmly bullish moving averages and I expect a test of 111.00 handle.

 
It reached 111.00 and above, I think it won't stop climbing at this level.
 
I think it's a good time to short the pair at 111.00.
 
Bulls are still in control, fresh acceleration push Usd/Jpy is trading above 111.00 level, next important resistance is at 112.
 
It broke out above 111.00, I think we will see it reach 111.60 soon.
 

USD/JPY is holding above 110.00 but remains vulnerable for slides towards the downside. I think that the pair might meet soon the supprot at 110.90.

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