USD/JPY Signal - USD Redbook Index - 29 March 2022

Short

U.S. Dollar / Japanese Yen (FX:USDJPY)

FX:USDJPY U.S. Dollar / Japanese Yen

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USD/JPY has formed a double top pattern today, having hit a 20 year resistance level. In addition, one of our algorithms has taken a sell trade, adding additional confluence to the short position. We are targeting downside to 121.300, and will be trailing stoploss at 50 pips above price.

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