Trading suggestion: . There is a possibility of temporary retracement to suggested support line (105.05). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis: . USDJPY is in a range bound and the beginning of uptrend is expected. . While the RSI downtrend #1 is not broken, bearish wave in price would continue. . The price is below the 21-Day WEMA which acts as a dynamic resistance. . The RSI is at 41.
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Thank you for your ideas.....Been the most helpful. Please do advise on what are the reason for the pair to move upwards???? Why do you see the pair moving up whereas while monitoring this pair for the last 30 days I see that it has moved down and still looks to be moving further down. Please do share your views as it will help me understand a little better.