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USDJPY is at risk of breaking a seven-year level.
I’ve mentioned this multi-year wedge pattern few times over the last few weekly analysis.
All breakouts on the daily and weekly time frames have failed.
It’s going to take a monthly close below support or above resistance to confirm the breakout.
Last week tested the 106.00 support area , which puts USDJPY at risk as we approach the July close this week.
We’ll see how the next five trading days play out, but a July close below 106.00 would expose 101.00.
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I’ve mentioned this multi-year wedge pattern few times over the last few weekly analysis.
All breakouts on the daily and weekly time frames have failed.
It’s going to take a monthly close below support or above resistance to confirm the breakout.
Last week tested the 106.00 support area , which puts USDJPY at risk as we approach the July close this week.
We’ll see how the next five trading days play out, but a July close below 106.00 would expose 101.00.
If you like our ideas please like and follow us.
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