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USDJPY: Rejected from Key Resistance | January 4, 2017



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Usdjpy has rejected from key resistance level at 118.60. Big rejection candle has been formed on that level. Now this pair is staying below this resistance level. We saw minor rejection from 118.18 level on Wednesday. So this pair lose its bullish momentum and sellers are trying to take control on this pair.

Now we can stay on sell mode below this rejection level. With some retrace on this pair, we can look for sell entry and target will be 116.10 level. 117.20 level can be support for this pair. If this level can be broken, then more fall can be seen in this pair.


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