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On the H4 chart, the pair is trading near the bottom line of Bollinger Bands, the price range is extended.MACD histogram is in the negative zone, the signal line is crossing the zero line and the body of the histogram from above, which is a signal to open short positions.Support levels: 1.2100, 1.2055, 1.2028, 1.1975.Resistance levels: 1.2205, 1.2228, 1.2348, 1.2370, 1.2400, 1.2420, 1.2450.
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USDJPY UP TREND
In the middle term, the upward trend will maintain, the pair will move within the current upward channel with the targets at 107.75, 108.15, 108.45. An insignificant correction is possible at the current level with the target at 106.80, where the upward wave will form.Technical indicators confirm the growth, MACD long positions volume is growing, Bollinger Bands are directed upwards.