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USD/JPY breaks short term trend line support 121.70, targets 120.50

Monday, August 24, 2015 1:20 AM UTC

USD/JPY breaks major support of 122.20 on Friday and declined till 121.80. It 's short term support is around 121.70 (trend line support) and in asian session today morning it has broken that level and declined till 121.17.
It has broken short term support 121.70 , a decline till 120.50 cannot be ruled out .
Overall trend is still weak as long as resistance 122.45 holds.
Any break above that level will take the pair to next level till 123/123.50 in short term.
It is good to sell on rallies around 121.75-80 with SL around 122.40 for the TP of 120.50

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USD/JPY breaks short term trend line support 121.70, targets 120.50

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