Forex Positive

Week 45 (03-07 Nov): USDJPY pullbacks expected

FX:USDJPY   U.S. Dollar / Japanese Yen
BOJ surprised the market with an expanded QE program to increase the Yen's monetary base. In the long term, the bullish run in USDJPY             should continue towards 115.00. However, all vertical rocketry price movements must eventually return to earth. I think there should be strong buying interest around 109.60-110.00. This is the 38.2% FIB retracement level and prior S/R swing high.

Long USDJPY             109.80-90
SL below 109.30
TP1 112.00
TP2 115.00

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