USDJPY – Down
Still nothing significant has changed on this pair. The Us Dollar is still rallying around a key weekly support zone 108.66-108.18. As long as this zone protects the lower side, we expect a possible rebound to long this pair with an ultimate target at 114.78, in case the price clearly breaks below 108.18, then we expect a possible bearish price rally towards 101.00 or even lower. This pair should be traded alongside CADJPY, NZDJPY, CHFJPY and AUDJPY. These pairs have a strong positive correlation of up to +63% and will move in the same direction today. Only buy or sell the US dollar if the other positively correlated pairs are giving the same signal.
Rebuy US Dollar around 108.06 with your target at 114.78
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