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Alert - 16:15 (CET) - UsdJpy
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After the negative US stocks opening, and with the Fed decision to cut rates to the ground, the Japanese currency strenghtened to levels under the 90 Yen psychological support.
The UsdJpy is trading at 87.47, ranging from 87.14 to 89.24, under yesterday's closing price at 89.05. Checking the hourly graphics, the 20- and 50-day Exponential Mobile Averages (EMA) are under the 200-day EMA.
As the pair broke the ultra-psychological support at 90.00 (key) and 88.55 (December 11th low), the traders are watching the next level at 85.00 (key). The resistances are set at 93.07 (December 9th high), 95.61 (December 1st high) and 98.19 (November 13th high).
Meanwhile, the 60-minute Relative Strenght Index (RSI) is at 20 points, in the oversold area. The average volatility per hour is 180 pips. Checking the graphics again, we see that the current price is under the 23.60% (130.80) and over the 0.00% (80.23) Fibonacci retracement lines.
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