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USDJPY inverted roof pattern targeting 122.00 and above

Discussion in 'Technical Analysis' started by FXStreet_Team, Oct 26, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    BOJ is facing problems due to oil price drop and recession while USD remains strong as a safe heaven. I have warned about USDJPY staying in the range and possible dip buying. Technically we should be ready to buy the dip again. The pair is showing INVERTED ROOF pattern ( A+B = breakout C ) which is already playing out.In the case of deeper retracement - POC2 comes in 120.35-120.20 zone (L4, 61.8, previous sellers/now moment buyers, X cross) and the target is 122.00 with 122.70 as the second

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