Currency Analyst since 2010

USD/JPY: Murray levels analysis

FXBAZOOKA.com - D1. The intersection of CTD1 and CTW1 may be a signal of a close end of an extended flat. The strong level is at the meeting point of CTD1 with 4/8 (103.13), from which the pair will likely continue rising to the level of 6/8 (104.69).

H4. Failure to close above 7/8 (104.30) will make the pair eventually slide to 4/8 (103.13). Scenario with a deeper correction down is unlikely, given the uptrend and CTD1. Do not rule out the possibility of further growth from the current levels or from the level of 5/8 (103.52).

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