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RLinda
Mar 8, 2023 9:18 AM

RLinda ! USDJPY-> The national currency continues to weaken Short

U.S. Dollar/Japanese YenFXCM

Description

USDJPY breaks up after the release of the Fed data. The Japanese yen is weakening on the backdrop of a stronger dollar.



On the chart, we can see the retest of the upside resistance, a false breakout is formed and at the moment the currency pair is in the stage of a technical pullback. I assume that local bearish movement can be directed towards the support of 139.91, which is at 0.382 Fibo level, or below -136.637 - 0.5 Fibo level.

I assume that in the short term the price can continue its growth, as the fundamental factor is strong for such a period. I expect a pullback to the support and then continue the growth to 137.85

Regards R.Linda!

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Comments
JoeChampion
Good job Linda, thank you!
ProjectSyndicate
reliable technical overview, thumbs up
FOREXN1
Thanks for sharing.
InkyGrip
might drop more, will see
Setupsfx_
Excellent
TheSignalyst
I totally agree more bullish jpy pairs to retest the resistance again
Gold-Tech
Thanks for the hard work. I like your chart
MonoCoinSignal
Solid details
KlejdiCuni
I share the same opinion as you. Thank you
basictradingtv
same opinion, thanks!
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