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USDJPY Continues To Defy Gravity

  • The uptrend in USDJPY that started January 2021 when the pair reversed from a low of 102.59, remains intact
  • Technical signals suggest that the pair is likely to continue to appreciate in Q2 and a clear break of 125.00 and 125.86 would strengthen the bullish condition.
  • At current levels, USDJPY is extremely overbought and the most recent portion of the uptrend is very steep. A correction is overdue.

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