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Trade Idea: USDJPY Approaching Resistance Zone | Sept 18
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USDJPY – Approaching Major Resistance Zone (daily chart)
Gaining 15 of the last 21 days, the USDJPY has shown considerable strength ST after bouncing off the 105 big figure and is fast approaching a key resistance zone between 109 and 109.75. ST we’re bullish but MT neutral while below 110 on a weekly closing basis.
ST we’re bullish but we suspect sellers may be coming up between 109 and 110, along with some bullish profit taking, so potential shorting opportunities here.
Key Support & Resistance Zones
R: 109.00, 109.75
S: 106.84, 105.15
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