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Stay Long USDJPY as Prices Test First Target

Stay Long USDJPY as Prices Test First Target

Ilya Spivak, Head Strategist, APAC

I entered long USDJPY at 78.67. Prices are now testing above my initial objective at 0.7953. I will wait for confirmation on a daily close above this level to revise my stop-loss to breakeven and aim for the next upside boundary at 80.39.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.