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USDJPY approaching major support, potential bounce!

Long
U.S. Dollar / Japanese Yen (FX:USDJPY)  
Tickmill Broker  
FX:USDJPY   U.S. Dollar / Japanese Yen
Trend Analysis Harmonic Patterns Chart Patterns USDJPY USD jpy usdjpylong usdjpyshort Forex forexsignals Bitcoin (Cryptocurrency) Cryptocurrency
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trendanalysis harmonicpatterns chartpattern usdjpy usd jpy usdjpylong usdjpyshort forex forexsignals bitcoin cryptocurrency
USDJPY is approaching its major support at 105.84 (78.6% Fibonacci retracement, horizontal overlap support, 61.8%, 100% Fibonacci extension). A strong reaction might occur at this level pushing price up to our next major resistance at 106.37 (horizontal overlap resistance, 38.2% Fibonacci retracement, 61.8% Fibonacci extension).
Stochastic (34,5,3) is also seeing a bullish divergence, a good precursor for a potential rise in price is.

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