USDJPY: Target hit. Sell signal ahead.

Our last USDJPY trade reached its 109.200 - 109.700 target zone:


The Channel Up on the 1H chart (RSI = 66.020, MACD = 0.480, ADX = 47.769) which we based our call on traded very well and is still valid but is approaching the Higher High zone. We are expecting a rejection within the 110.000 - 110.650 region and will take this sell opportunity to target the 108.500 - 108.000 zone.

We have been following USDJPY closely since the August 2019 bottom:



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