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This week’s call: USDJPY support found at 82.00; Bullish
USDJPY posted initial gains at the start of the week but sellers emerged on Tuesday with the subsequent bearish momentum resulting in 3 lower daily highs and lows and the major currency pair trading to the most negative level in 3 weeks (on Friday – 81.83). But levels under 82.00 have been rejected on 4 occasions in the last 14 trading days, with price action of Friday resulting in all the initial weekly losses being recaptured. Although trading is expected to be mixed and volatile next week, the immediate bias is assessed to be bullish. Hence our call is bullish above 81.83. The profit targets are 83.18, ... (full story)
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