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ForexWizard01
Nov 6, 2023 7:54 AM

USDJPY Take off?? Long

U.S. Dollar/Japanese YenFXCM

Description

USDJPY, the double bottom pattern, might indicate a reversal of the previous downward trend. Traders often use the distance between the lowest low of the pattern and the resistance line to estimate a potential price target.
Based on this pattern, and major direction of trend, a projected target of 151 might be feasible. However, it's essential to apply technical analysis and consider other indicators to confirm the pattern and potential price target before making trading decisions.
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