Participant

We have an extended sideways movement on this pair, the price is testing an important support area. If the price will have the power to break this support then the price will approach the major support zone between 118,54 and 118,85. The pair remains bullish on long term but we can have a correction on short and medium term. The WL2 line represents also an important suport level.The JP225 index has reached a historical high this week at 20263 but looks exhausted, if will decline then the JPY will appreciate against the US dollar.

jpy

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