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MKBillions

USDJPY, Scenario 2

Long
U.S. Dollar / Japanese Yen (FX:USDJPY)  
MKBillions  
FX:USDJPY   U.S. Dollar / Japanese Yen
Trend Analysis Chart Patterns
4
2
trendanalysis chartpattern
The second scenario I see for USDJPY is this bullish pennant. This seems more ideal to me considering the current strength of the dollar. If this plays out, the target will be at 112.019 which almost coincide with the 1.618 fib level at 112.078. See the link to the chart for scenario 1 below:

USDJPY, Scenario 1
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