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Forex technical analysis. USDJPY moves above key resistance. Stops triggered

The 115.96-116.09 broken. Now support.

The USDJPY has broken above key resistance at the 115.96-106.09 area. That area were swing lows from August 2015 and January 2016. ON Monday, the level was tested and held. Stay above and the buyers remain in control. Move below and traders may start to think FAILED BREAK. Be aware.

Looking at the minute chart, the price action stalled at the aforementioned rresistance at the 115.96-116.09 area. When that was broke, more stops were triggered.

The question for traders now is "Can the key resistance, now hold support?"

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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