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Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

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USD/JPY broke out of trend line, potential for further drop

analytics5f04018b9e78a.jpg

Trading Recommendation

Entry: 107.674

Reason for Entry: Horizontal overlap resistance and 50% fibonacci retracement

Take Profit: 106.830

Reason for Take Profit: Horizontal swing low support, 78.6% fibonacci retracement

Stop Loss: 108.080

Reason for Take Profit: Horizontal swing high resistance, 78.6% fibonacci retracement

The material has been provided by InstaForex Company - www.instaforex.com