Good data coming from USA and general reserve currencies weakness ( EUR JPY) has led to a strong rally on USDJPY pairs as I have been suggesting that it could have been bought on dips. USDJPY has been one of the safest trading instruments lately and again it has been proving it by giving good trending patterns. Previous swing point , L3, DPP, 61.8 fib show great confluence in 120.30-20 zone. If USDJPY retraces in the zone I expect the pair to be bought further targeting 121.50. Adding to that we can also see intraweek trend line which is also holding bullish trend.
The analysis and the article presents Nenad's opinion. Remember, financial trading is highly speculative & may lead to the loss of your funds. Proper risk management is the Holy Grail of trading.
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