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FxWirePro: Buy USD/JPY at dips around 119.15-20 with SL around 118.40 for the TP of 120.20/120.75

  • USD/JPY has made a low of 118.60 on Friday and slightly recovered till 119.58 in today morning. Overall trend is bullish as long as support 118.40 holds. 

  • On the higher side minor resistance is around 119.60 and any break above would extend gains till 120.20/120.75 in short term. 

  • The pair's short term support is around 118.75 and break below targets 118.40/118. Overall  bullish invalidation only below Aug 24th 2015 low. 

It is good to buy at dips around 119.15-20 with SL around 118.40 for the TP of 120.20/120.75

 

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