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$USDJPY - Forex technical trade note

4 April 2018 / JSE Market Updates / Research Notes Posted by: Barry Dumas
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I have spotted an inverse Head and Shoulders technical pattern on the USD/JPY currency pair and I am looking to place a long trade. Please take note that the Dollar will play a role in this currency pair trade idea playing out.

Trade summary detailed below...

Trade: USD/JPY

  • Entry (Buy): 106.70
  • Stop loss: 105.66 below the right shoulder.
  • Target price 1: 107.27
  • Target price 2: 107.67

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