USDJPY Trade Idea
UJ is currently in a range bound condition after an extended downtrend. In yesterday's forecast, I expected the market to break above the 103.70 resistance, however, as the trendline is broken, a short-term bearish momentum back to 103.000 previous swing low is expected. Due to the recent dollar weakness, if the 103.000 support zone is violated, we could expect further downwards pressure towards 102.000 - 101.000.
Trade safe.
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Trade safe.
Do follow my profile for daily fx forecast.
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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.