111 is key support here. Since the beginning of the year following the big dive to 105, USD/JPY climbed reguralarly from 108 to 112. Week8 brokeout without hesitating for the upside to hit 112 and week9 ended with a retest of 111. Monday morning could still hit week8 low and if it does I will probably go for a bounce. But after that I expect a week a ranging which I look forward to identify as soon as it unfolds during week10.
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