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USD/JPY Bulls Are Still Strong

By:
Nenad Kerkez
Published: Apr 7, 2020, 07:59 UTC

The USD/JPY is still very bullish. We can clearly see the bullish order block (red line) and a possible bounce off the level.

USD/JPY Bulls Are Still Strong

In this article:

Dear Traders,

The USD/JPY is still very bullish. We can clearly see the bullish order block (red line) and a possible bounce off the level.

108.60-80 is the POC zone. This is a retest of the order block which is currently playing out. If the price manages to close above 108.88, we should see a continuation. Targets are 109.08, 109. 30 and 109.50. A move towards 109.50 will be a confirmation of the more prominent ascending scallop pattern on H1 timeframe.

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The Analysis has been done with the CAMMACD.Core and Sit Systems

About the Author

Nenad Kerkezcontributor

M.Ec. Nenad Kerkez aka Tarantula is Elite CurrenSeas Head trader and a valued contributor to many premium Forex and trading websites.

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