FXWW News/Trade Ideas/USD/JPY

USD/JPY: Don’t fancy buying dips at these levels

Resistance at 100.50/55 is still looking quite formidable and I don’t see much value in buying short-term dips whilst the sideways momentum remains so strong. The charts still look like 97.50/100.50 consolidation (see chart) and we need to wait for some strong market signals before changing this view.

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