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USDJPY Forex Analysis for June 10th 2019

USDJPY Forex Analysis for June 10th 2019
Monday, June 10th, 2019 @ 6:58 am by Muhammad Azeem

About Muhammad Azeem:

Muhammad Azeem Mr. Azeem is a pure technician and solely employs technical market analysis in trading. He believes that the news is just the catalyst for technical events. In his opinion, prices are so far ahead of any news story as every conceivable fundamental possibility has already been discounted. Muhammad is a regular participant in the FX Instructor Live Trading Room.

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With a good momentum, the price of USDJPY Spot Forex pair is moving up and currency traders may attempt to look for a buy trading chance to join the up trend. Price action is stepping high and we expect market to keep rising up towards 108.70 price target area.

 

Multiple bullish legs pattern could be seen in USDJPY price action. Key support level is present at 108.36 price level, based on most recent swing low in 15 minutes time frame of USDJPY. However, a clear bearish break down in price action below 108.36 vital support area will end the up trend. In such type of Forex trading market situation, avoid buying and selling USDJPY and just keep re-analyzing the price movement.

USDJPY Forex Analysis

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