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USDJPY Time for a correction?

Discussion in 'Technical Analysis' started by FXStreet_Team, Apr 8, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Yen has been gaining ground vs USD and that reflects on the chart as a direct drop towards monthly Camarilla PP without any substantial retracement. USDJPY might be targeting 105.44 on mid-term perspective but short term (intraday/intraweek) it could reject from 108.50, L5 camarilla support. Additionally higher Yen is not good to Japan’s economy as its underpinning its exports and lowers corporate earnings. Technically POC is higher 110.40-70 and that’s the zone where new moment sellers should

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