The USDJPY has been trading between its support and resistance levels without violating them. I think after the most recent sell-off in this currency pair we may see another reversal. The support level is very strong and I do not think the sell-off will take the USDJPY below the 100.00 mark. I am taking my first long position at 101.30 and plan on adding to my long position at 100.00 should there be another entry opportunity.
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