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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 - New Low Yndicates an Increasing Selling Pressure

USD/JPY remains weak as long as prices remain below the key resistance at 120.10/20 (declining trendline). Further weakness is favoured.Hourly support stands at 118.53. Resistance is given by the recent high at 120.50 then 120.84 (13/04/2015 high).

A long-term bullish bias is favored as long as the strong support at 115.57 (16/12/2014 low) holds. A gradual rise towards the major resistance at 124.14 (22/06/2007 high) is favored. A key support can be found at 118.18 (16/02/2015 low), whereas a key resistance stands at 121.85 (see also the long-term declining channel).

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