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RITIKAGARG31

Watch four and half month old resistance trendline

U.S. Dollar / Japanese Yen (FX:USDJPY)  
RITIKAGARG31  
FX:USDJPY   U.S. Dollar / Japanese Yen
Trend Analysis
5
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trendanalysis

The USDJPY is currently trading just below the resistance trend line on intraday chart since 20th April 2019. The pair is likely to take a pull back from the resistance area like it did in past. So, the traders are advised to watch a reverse off from resistance of 107.900 and once it happens, then the traders can go for a short position. The target could be set at 106.72 while Stop Loss at 108.612.

In case the pair breach above the trend line then a long position can be initiated with a target of 109.25.
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