USDJPY 2018-07-30

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

USDJPY managed to head for fast drop movement as market kept trades below 113.30-70 which this drop was driven by Donald Trump tweet about rate hike

Market managed to test support uptrend line around 110.50-60 which if managed to hold the market another advance wave may be on play where resistance still at 113.30-70 zone

Below 110.50 Market may risk for farther drop movement toward 108.50-109.00 zone

  Support Resistance
Level 1 110.50-60 111.50
Level 2 110.20 112.05
Level 3 109.00 113.30
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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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