Cabana Capitals Blog Technical Analysis USDJPY breakout through resistance

USDJPY breakout through resistance

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USDJPY is once again retesting a key horizontal resistance level at 151.5850. It has tested this level 3 times in the recent past and could simply bounce off like it did last time. However, after this many tries, maybe it’s ready to start a new trend.

Supported by Upward sloping Moving Average

Target: 152.1929 Entry: 151.751 Stop: 151.367

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