Technician

USDJPY: Intraday Technical Strategy

FX:USDJPY   U.S. Dollar/Japanese Yen
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Summary:
-Short term moving averages clearly indicates a sideways market(short term)
-Price clears 102.54-102.67 resistance level
-Next Dynamic Resistance at the falling trend line currently at 103.10-103.15.

Strategy:
-If price pulls-back towards 102.55 area, look for new intraday bullish setups through rejection and pin bars. Update target could be at 103.00 and 103.15.
-If price breaks and hold back below 102.53 we will probably another leg towards the minor rising trend line for the latest bullish wave at 102.00.

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