USDJPY is moving towards a resistance line which it has tested numerous times in the past. We have seen it retrace from this line before, so at this stage it isn’t clear whether it will breach this line or rebound as it did before. If USDJPY continues in its current trajectory, we could see it reach 156.9975 within the next 2 days.
Supported by Upward sloping Moving Average
Target: 156.9975 Entry: 156.247 Stop: 155.843
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