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USD/JPY : usd/jpy is currently going to up trend for beyond the technical analysis SD/JPY moving up...
1. monthly chart for current support is strong and buying pressure is high
2. monthly chart - candle stick is engulfing and hammer forming for double conformation
3. the 4hr bottom of chart is forming...
Market Analysis : Yesterday evening around 7:30 PM most of the retail traders who trades in commodity segment (Crude Oil) would have been taken sell call after 4 hours support channel broken and they were expecting market will fall heavily but market has taken support from 40.47 and reversed because of another support channel which i mentioned in chart
Heavy resistance @ 149.70
If it breaks the support of 139.4, then it perfect for shorting as per Double Top Pattern.
If it does NOT break the support, it maybe a trend reversal to the resistance or movement of price in sideways.
Warning: Today is the quarterly earning result of COAL IND. Please ensure to look at that too.
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