Usd Jpy is trading in a range bound manner for more than a month. Price was hovering between 107.000 and 105.500. Yesterday the pair broke it’s silence and the price is now trading below it’s familiar level of 105.500. Now what is the fate of the pair now is a big question. As the pair broke it’s support line the weakness should persist for now, but upto which level. However it is still difficult to say that price has really broken it’s range, the wait and watch policy will be the best for now. If you see price below 105.000, it will be a good price to start buy on dips to make good profits. We are also waiting for some more weakness in the pair to start buying, otherwise the pair will still stay in it’s recent range according to our analysis.
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