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Usdjpysell

USD/JPY OverboughtDue to the chaos caused in the markets this week by the Reddit group/Gamestop stock buying there have been big unexpected moves that have ruined some ideas on here. The markets have started calming now so expect some retraces. This is very much over bought, RSI is at 77 so expect a pullback soon. I have marked the next high with the blue line which is the highest I expect this to go before a pullback but the pullback may come before reaching this. My TP is at 0.5 Fib which aligns with a previous resistance at 104.000. If you want a safer target you can use 0.382 Fib. SL can be just above the blue line marking the previous high. Wait for sing of a pullback using the MACD and EMA's and 1HR timeframe if needed.
Short
by olly48
USDJPY TECHNICAL ANALYSIS; BEARISH VIEWUSDJPY currently in a bearish channel, higher risk currencies instead are in a bullish continuation. From my technical analysis I expect price to move down to key level 103.300 finding a strong support. If price is able to respect the bearish trend line and key level 103.300 becomes resistance we can probably see a further down move to 102.960 and 102.610, until making a new lower low. I will keep my analysis updated. Stay tuned for possible position opening.
Short
by Luke220600
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