USDJPY 2018-07-16

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As we advised last week and as we see over our previous chart

USDJPY managed to break above Short-Run resistance 111.40 last week which trigger fast advanced on market

we still looking toward our second scenario after the break where target around 113.30-70 zone

The pair beeing on the overbought seems not holding the advance while zone of 113.30-70 may set a drop correction toward 111.90

Above 113.70 market may hold the advance rally toward 114.70 which in turn may trigger such drop correction

  Support Resistance
Level 1 111.90 113.30
Level 2 111.30-40 113.70
Level 3 110.50 114.70
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Rami Abu-Dra`a is a Chief Technical Analyst at Orbex and a holder of B.S Degree in Banking & Financial Science / Subsidiary Economic. Rami ‘s strategic vision of forex markets, enhanced by more than a decade of trading experience, allows him to efficiently mix fundamental and technical analyses, and find the best investment ideas for Orbex traders.

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Rami Abu-Dra`a is a Chief Technical Analyst at Orbex and a holder of B.S Degree in Banking & Financial Science / Subsidiary Economic. Rami ‘s strategic vision of forex markets, enhanced by more than a decade of trading experience, allows him to efficiently mix fundamental and technical analyses, and find the best investment ideas for Orbex traders.

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