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USDJPY could drop to 105.91 if the lower TL breaks

FX:USDJPY   U.S. Dollar / Japanese Yen
Hello friends, USDJPY has been consolidating in the same area for the last 7-8 days. However, price action indicates weakness in USDJPY .

If the lower TL breaks, UJ could drop to 105.30 level.

A drop in the global indices as the economic outlooks worsens due to the COVID-19 pandemic could trigger a risk-off situation which will probably lead to a decline in USDJPY as the Japanese Yen strengthens.

Comments

certainly one to watch for the upcoming week eh? I hope to catch the ride down if it does break the trend line!

As i always say, i love the simplicity of your charts
+2 Reply
Nice breakout!

here's my analysis on USDJPY
+1 Reply
Well done I will be watching this
+1 Reply
Thanks Prof, if it does break the TL, would your first CP or TP be @107.054. Nice clean charting too.
+1 Reply
Any update for this pair??
Does rejection at 106.96 means it will continue downward or may break the resistance??
Reply
best
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Very bery bad analysis
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TraderAvDM MladenJelic
@MladenJelic, ???How is that?
Reply
MladenJelic TraderAvDM
@TraderAvDM,

we have good buy side and your chart is not good
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