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Feb 13, 2020
USDJPY 110.30 still key
The US dollar appears increasingly bullish against the Japanese yen currency over the short-term, with price holding well above the 109.70 level. Going forward, a break above the 110.30 level should spark a major rally in the USDJPY pair towards the 111.00 level. Only sustained weakness below the 109.70 level would negate the strong short-term bullish bias surrounding the pair.
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The USDJPY pair is only bearish while trading below the 109.70 level, key support is found at the 109.35 and 109.00 levels.
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The USDJPY pair is only bullish while trading above the 109.70 level, key resistance is found at the 110.30 and 111.00 levels.