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MIG Bank

MIG Bank

MIG Bank

MIG BANK, formerly known as MIG INVESTMENTS, was established in Neuchatel, Switzerland as an online Forex broker and in 2009 became the world's 1st Forex…

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USD/JPY - Pushing Higher

USD/JPY has broken the resistance implied by its declining channel, confirming an improving technical structure. A test of the resistance area between 120.83 and 121.85 is favoured. Hourly supports can be found at 119.22 (06/02/2015 high) and 118.33 (09/02/2015 low).

A long-term bullish bias is favoured as long as the key support 110.09 (01/10/2014 high) holds. Even if a medium-term consolidation is likely underway, there is no sign to suggest the end of the long-term bullish trend. A gradual rise towards the major resistance at 124.14 (22/06/2007 high) is likely. A key support can be found at 115.57 (16/12/2014 low).

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