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USD/JPY: pair pausing in strong up-trend

   
The pair has paused in its up-trend and formed a small consolidation visible on the 4-hour chart below.

The dominant up-trend is expected to continue higher eventually, however, with an initial move above the dragon-fly doji highs at 124.20, signalling a probable continuation up to a target at 124.47.

Such a move would also probably indicate an even more bullish push up to a target at 124.93, as it would signal a break above the range highs at 124.43 and so a breakout from the box formation unfolding at the current level.

Of course the long-term target lies s;lightly higher at 125.40, calculated from the original breakout from the large multi-month triangle.
USDJPY01

   
The pair has paused in its up-trend and formed a small consolidation visible on the 4-hour chart below.

The dominant up-trend is expected to continue higher eventually, however, with an initial move above the dragon-fly doji highs at 124.20, signalling a probable continuation up to a target at 124.47.

Such a move would also probably indicate an even more bullish push up to a target at 124.93, as it would signal a break above the range highs at 124.43 and so a breakout from the box formation unfolding at the current level.

Of course the long-term target lies s;lightly higher at 125.40, calculated from the original breakout from the large multi-month triangle.
USDJPY01



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