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Expect a rally towards 1.2503 and may break even higher. If this level should be broken to the lower side, then we expect a possible momentum to the lower side with our target being 1.2194. A break below 1.2320 will push the price further to the lower side with the next target being 1.2194. Wait for a possible buy position around 1.230 towards 1.2503.
USDJPY is facing the resistance of descending price channel on daily chart. As long as the channel resistance holds, the rise from 108.13 could be treated as consolidation of the downtrend from 118.66, and another fall towards 106.00 could be expected after the consolidation. On the upside, a clear break out of the the channel resistance will indicate that the downward movement from 118.66 had completed at 108.13 already, then the following upward movement could bring price to 120.00 area. by ForexCycle.com
Monthly Signals Performance EURUSD:60 Pips USDJPY:188 Pips GBPUSD:04 Pips USDCHF:108 Pips Total Gain 360 Pips ==================== Forex Signal Provider