Strong rebound off support found around 105.50 which was a previous key level in 2016, the median line of this long-term pitchfork & 61.8% retrace off the 2016 climb, has got us to the first level of potential resistance. Was the previous swing low in September, the 38.2% retrace (5/1 -> 16/2) & 23.6% retrace of the 2/2-16/2 decline. A squeeze above these levels eyes the long term trend line broken on the 13th, the 50% retrace of 2/2-16/2 and the 50% median line & 21DMA. Thursday night japanese CPI data will be key for this trading pair
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.