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anshuman_05
Jun 23, 2023 2:22 PM

long USD/JPY Long

USD/JPYOANDA

Description

Looks like another breakout from the consolidation pattern on the hourly timeframe. The pair has the next resistance only at 145 level. That is a lot of room to rally.

Comment

here is the daily chart to show the next resistance of some importance.

Comment

Continue holding the trade as the DXY has also broken out from a consolidation pattern which will be a tailwind for the UD/JPY pair. Link below to the chart

Trade closed: target reached

The yen basket is making a descending wedge which is a bullish pattern. Chart below. Hence booking the profits and moving out.
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