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savvyacademy

Monthly Sell Setup for USDJPY March 2021

Short
U.S. Dollar / Japanese Yen (FX:USDJPY)  
savvyacademy Updated   
FX:USDJPY   U.S. Dollar / Japanese Yen
Support and Resistance Parallel Channel Fibonacci USDJPY usdjpyshort usdjpymonthly
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supportandresistance parallelchannel fibonacci usdjpy usdjpyshort usdjpymonthly
USDJPY may have either a strong bullish markup or potential bullish exhaustion for the last week of Feb 2021. In addition, the price level happened to be within a confluence of axis line and intersection of long term bearish and short term bullish equidistant channel.
107 which is near 61.8% retracement, seems an ideal level to be ready to short USDJPY.
Trade closed: stop reached:
Stop loss hit.

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