Usd/Jpy is a strongly bullish pair, technically aswell as fundamentally
On the weekly chart a retracement is currently underway from previous highs
after the pair touched 110
I believe this level will be retaken and broken before too long
The current retracement should stop around the 38.2% fibonacci retracement level
if the pair is still truly bullish
and the price should be on the move up from there
The retracement to the 38.2% level provides us with a 61.8% fibonacci expansion level of above …
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