USDJPY, Daily
The JPY continues to strengthen on the back of lower commodities and outflows for China as the flight to safety trades remains open for the time being.
Since current USDJPY market price remains below the longer term (Monthly) chart trend-line, as well as negative MA analysis, along with the big picture macros, my conclusion is for further JPY strength.
This strength will lead the USDJPY pair lower over the medium term towards price targets 116.70 (Target 1), and 115.90 (Target 2).
Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.
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