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Jun 26, 2019
USDJPY weak correction
The US dollar has staged a technical correction higher against the Japanese yen currency after the greenback received a much-needed boost on Tuesday. The move higher is fairly weak leaving the recent downtrend still in play, with USDJPY bears targetting the 106.40 level. A clear break of the 107.00 to 107.80 price range is now needed for the next USDJPY directional breakout.
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The USDJPY pair is bearish while trading below the 107.80 level, key support remains at the 107.00 and 106.40 levels.
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If the USDJPY pair trades above the 107.80 level, key technical resistance remains at the 108.00 and 108.55 levels.