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FxWirePro: USD/JPY faces major resistance around 119.70,good to buy at dips

  • USD/JPY has recovered after making a low of 118 on Thrusday  and is currently trading at 119.54.

  •  The pair is facing major trend line resistance at 119.70 (trend line joining 121.22 and 120.56) and any break above target 120.30/121.

  • On the downside minor support is around 119.20 and break below targets 118.60/118.

It is good to buy at dips around 119.45-50 with SL around 119.15 for the TP of 120.30/120.70

 

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