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01.10.202013:29 Forex Analysis & Reviews: USD/JPY: Up reversal needs confirmation

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Exchange Rates 01.10.2020 analysis

USD/JPY has decreased as little in the short-term failing to reach the black downtrend again. Still, another upside momentum followed by a breakout above the downtrend line and of the 106 psychological level could bring a great buying opportunity.

Jumping and stabilizing above 106 makes USD/JPY very attractive for buyers. The pair could drop deeper again if it fails to reach the downtrend line.

  • USD/JPY Trading Tips & Conclusion

Buy an increase, jump beyond 106.00 psychological level, and above the downtrend line. The 108.00 could be used as an upside target.

Ralph Shedler
Analytical expert of InstaForex
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