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Forex Analysis & Reviews: USD/JPY trapped between 137.65 and 139.64
time 29.11.2022 09:57 PM
time Relevance up to, 30.11.2022 09:57 PM

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USD/JPY Seems Undecided!

The USD/JPY pair is trading sideways in the short term. Yesterday's low of 137.65 represents a downside obstacle while 139.64 former high stands as an upside obstacle. The downtrend line represents a dynamic obstacle. As long as it stays below 139.64 and under the downtrend line, the price could drop deeper.

Jumping above the 139.64 obstacle signals a potential growth at least towards the downtrend line. A larger upside movement could be announced if it jumps above the downtrend line as well.

USD/JPY Trading Conclusion!

Dropping below the 137.65 former low validates a deeper drop. This scenario helps the traders to sell this pair.

Ralph Shedler,
Analytical expert of InstaForex
© 2007-2023
USDJPY
US Dollar vs Japanese Yen
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