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Cluster of resistance ahead
The USDJPY is moving to new session highs and in the process are moving toward the 100 and 200 hour MA and 61.8% of the range this week. A broken trend line is also up ahead. That area comes in at 111.19-23. Sellers (longs/traders looking for a correction) should lean against the cluster of levels, with stops on a break.
The current price is at 111.12.
This article was originally published by Forexlive.com. Read the original article here.