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Mihai_Iacob

UsdJpy could go to 106

Long
U.S. Dollar / Japanese Yen (FX:USDJPY)  
Mihai_Iacob  
FX:USDJPY   U.S. Dollar / Japanese Yen
Trend Analysis Chart Patterns Technical Indicators USDJPY usdjpylong usdjpyanalysis usdjpybuy usdjpyforecast usdjpylongsetup usdjpyidea usdjpysignal usdjpy_long
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trendanalysis chartpattern indicator usdjpy usdjpylong usdjpyanalysis usdjpybuy usdjpyforecast usdjpylongsetup usdjpyidea usdjpysignal usdjpy_long
Since March 2020, UsdJpy is in a downtrend. I think things are about to change and the pair could go to 106 soon.
After the most recent low Usd has recovered losses and the last days of last week found the pair in a tight consolidation just under trend line support.
I expect a break of this downtrend line and a clear daily close above 104 would expose 106 resistance.
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