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U.S. Dollar / Japanese Yen
Long

USDJPY bouncing nicely above strong support!

By ICmarkets
Broker
USDJPY is testing our major support level at 107.15 (horizontal overlap support, 50% Fibonacci retracement level) and approaching our ascending support line. A strong bounce could occur at this support level , pushing price up to the next resistance level at 107.789 (61.8% Fibonacci extension level, horizontal overlap resistance, 50% Fibonacci retracement level).

RSI (89) has a nice ascending support line that is maintaining our bullish bias.
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ICmarkets
Broker
IC Markets is an online forex broker specialized in providing transparent trading solutions to both retail and institutional investors alike. We provide superior execution technology, lower spreads and unrivaled liquidity.
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