U.S. Dollar / Japanese YenUpdated USDJPY Trade Idea
In yesterday's forecast, I expected UJ to hold above the 103.700 support zone showing buyers' strength, which was exactly what the market performed. Today's setup will remain similar, wait for a clear break of the current exhaustion pattern on UJ with 104.700 & 105.550 resistance zones as targets. However, do pay attention to the 104.291 resistance level, and do not forget the overall trend on the higher timeframe remains bullish.
Trade safe.
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Trade safe.
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Note
Previous analysis
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.