USDJPY's potential short-term support

USDJPY

The above chart shows hourly price action. Key support is potentially at the confluence of factors including the central pivot level (P), the 38.2% Fibonacci retracement level and price congestion support (green rectangle). The stochastic is also at buyer friendly levels (green ellipse). A pullback in USDJPY may provide a “buy the dip in an uptrend” opportunity.

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