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Looking to Buy USD/JPY

Joel Kruger, Technical Strategist

Despite the latest sharp pullback, the market still holds above our projected key higher low at 76.55 on a close basis. Only a close below 76.55 would negate bullish tendencies and as such, look for a positive close on Monday to once again suggest that the market is poised for fresh upside. Of course, a close below 76.55 would negate the outlook and expose a retest of the record lows from late October.

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