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USDJPY: Stay Long as Prices Hit First Target

USDJPY: Stay Long as Prices Hit First Target

Ilya Spivak, Head Strategist, APAC

Strategy: Long at 78.67, Targeting 80.39

Floating Profit / Loss: +121 pips

We entered long USDJPY at 78.67. The pair has now surpassed our first objective at 79.53, with prices testing the 80.00 figure. We continue to hold long, targeting the next upside barrier at 80.39. The stop-loss will also be revised higher to be triggered on a daily close below 78.67.

USDJPY_Stay_Long_as_Prices_Hit_First_Target_body_Picture_5.png, USDJPY: Stay Long as Prices Hit First Target

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com

To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak

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