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USDJPY Technical Analysis
On the daily chart, we can see that USDJPY sold off from the cycle high at 151.92 following weaker than expected US data last week that pushed Treasury yields and the US Dollar lower. This week, the pair bounced back and it’s now near the key 150.00 handle. The bias is now more skewed to the downside as the moving averages have finally crossed to the downside and the buyers may wait for the price to come into the trendline around the 146.00 handle where they will have a much better risk to reward setup. On the 4 hour chart, we can see that the price is now near a key resistance zone where we can find the confluence ... (full story)