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USDJPY – prognosis via Dow Theory for calendar week 44/2015

Weekly chart:

In the big picture, this currency pair is still in a mature trend stage and has dived deep into the correction. The end of the correction is located at 115.585 JPY. As long as the price does not fall short of this marker, the trend can still proceed onwards. But soon, the price should slowly start to turn around in order to actually keep this chance.

Chart1

Daily chart:

Unfortunately there is still no valid trend in this trend size, meaning that there is still no serious possibility of making a trade here. However, the short-term chances are rather on the lower side.

Chart2

Hourly chart:

On the other hand, in this trend size, we can see an uptrend that is still young. After the last high at 118.556 JPY, this uptrend corrected deep into its correction zone, namely precisely to the last point three. There, it seems that several buyers entered the market and induced a long trade. With a close stop beneath the green correction zone, one could enter a long trade here. However, one should take into account that the higher trend offers no support at all.

Chart3

I hope you will remain favorably disposed towards me and always remember: the journey is the reward!

All the best

Markus Gabel

Head of Sales/Trading

AgenaTrader/TradeEscort

AgenaTrader Trading Software

IMPORTANT NOTE: Exchange transactions are associated with significant risks. Those who trade on the financial and commodity markets must familiarize themselves with these risks. Possible analyses, techniques and methods presented here are not an invitation to trade on the financial and commodity markets. They serve only for illustration, further education, and information purposes, and do not constitute investment advice or personal recommendations in any way. They are intended only to facilitate the customer's investment decision, and do not replace the advice of an investor or specific investment advice. The customer trades completely at his or her own risk. Please refer to the current version of the Terms and Conditions.

Friday, 08 Jan, 2016 / 10:29

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