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FxPro Forex Analysis: USDJPY Wave Analysis – 10 July , 2018

USDJPY broke key resistance level 111.00
• Likely to rise further

USDJPY today broke above the key resistance level 111.00 (which has been reversing the price from the middle of May, as can be seen from the daily USDJPY chart below).

The breakout of the resistance level 111.00 accelerated the active minor impulse wave 2 of the medium-term impulse wave (3) from the end of May.

USDJPY is likely to rise further and re-test the next resistance level 112.00 (target price calculated for the completion of the active impulse wave (iii)).

USDJPY - Primary Analysis - Jul-10 1600 PM (1 day)

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