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FX.co ★ USD/JPY Challenges The Uptrend Support!

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Forex Analysis:::2021-06-07T14:25:00

USD/JPY Challenges The Uptrend Support!

USD/JPY Challenges The Uptrend Support!

USD/JPY drops at the moment of writing and is pressuring the uptrend line. The uptrend line represents dynamic support. Staying above it could signal that the pair could still increase despite the current decline.

On the other hand, stabilizing below the uptrend line indicates that USD/JPY could drop further in the upcoming period.

Outlook!

Staying above the uptrend line and jumping above 109.64 could really signal that the rate could increase further.

USD/JPY could drop further if the rate stabilizes below the uptrend line, maybe after dropping below 109.00.

Analyst InstaForex
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