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USDJPY Technical Overview and Potential Trade Opportunities

USDJPY Technical Overview and Potential Trade Opportunities

We have entered a Long Trade @ 113.000 (USDJPY Technical Overview and Midterm Trade Setup ) after closing the Bearish Harmonic Short Trade with 65 pips. ( USDJPY Trendline Breakout and Harmonic XABCD )

Since we have a running long position, we are not publishing a fresh trade setup.

However, as seen on the below H1 Chart, we might see a retracement towards 113.000 – 112.800 region based on the Bearish Cypher Pattern.

A potential retracement towards 113.000 – 112.800 can be used as a buying opportunity.

We will look for the breakout of the first resistance @ 113.400 to add  Long position. Our midterm targets will be 113.900 and 114.200.

We have two bearish harmonic patterns @ 113.920 Bearish Cypher and @ 114.200 Bearish Shark signaling a minor correction.We have already published this pattern and trade setup for the members.

Bullish move will continue as long as Anka holds above 112.200.

Any intraday trade opportunities will be published for the members.

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DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money

USDJPY : Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

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