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USD/JPY Techs: Bears can sell near 99.40 with tight-ish stop

(See chart).

I really like the risk-reward possibilities on this trade. Trend-line and Fibo resistance on the hourly chart at 99.40 and bears can try selling there with a tight stop.

  1. I would love that and I would target 95.30 but didn’t we break the falling daily trendline? Of course it could have been a false break but if it’s not, 100.66 or even 102.50 is a natural bull target. With the September FOMC meeting ahead, and with other yen pairs at elevated levels, I prefer to wait with profit taking or establishing new shorts.

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