USDJPY (Weekly) – Bearish medium-/long-term
The current risk-off environment spurred the sell-off in the pair. On top of that last week close below 112.00 has also added to the bearish view (notice: trendline break, retest, rejection).
An attempt to rally above 112.50/80 might be the selling opportunity with the 110.00/20 as a first possible target, next around 108.00 and then followed by 105.00/104.00.
A weekly close above the rising trendline will put the whole idea on hold and weekly close above 116.00 will cancel our bearish view.
Should you have any questions feel free to contact us anytime.
Good luck Champs!
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