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USD/JPY remains a sell for 120.10 – Growth Aces


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FXStreet (Barcelona) – The Growth Aces Research Team expects Japan data in this week to support JPY buying, hence go short on USD/JPY, targeting 120.10.

Key Quotes


“Japan’s macroeconomic data that will be published this week may bring some positive surprises which could encourage investors to buy JPY. In our opinion evels above March highs (122.04) could be a good opportunity to sell the USD/JPY.”


“Resistance: 121.77 (session high May 25), 122.04 (high Mar 10), 123.00 (psychological level)”


“Support: 120.64 (low May 22), 120.58 (low May 20), 119.83 (low May 19)”


“USD/JPY: sell at 122.20, if filled – target 120.10, stop-loss 123.10, risk factor **”