USDJPY Breakout and potential retrace
Hey traders, USDJPY was trading in an uptrend but successfully managed to break it out as the environment of USD continue weakening. Fundamentally there are high expectations on a less restrictive monetary policy from the US as inflation tensions have eased. in a second point JPY is considered a safe haven with current banking sector crisis. Technically we will be watching a potential retrace of the trend around 132.2 support and resistance zone.
Trade safe, Joe.
Trade safe, Joe.
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