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USDJPY recently reversed up from the support zone located between the key support level 104.150 (monthly low from July) and the lower daily Bollinger Band. The upward reversal from this support zone started the active corrective wave (ii). Given the strengthening bullish sentiment affecting the US dollar today – USDJPY is likely to rise further toward the next resistance level 105.300 (former strong support from the end of August).
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