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USD / JPY: The pair is trying to break the pivotal support to come down

10 Aug 2018 11:22 AM

The USDJPY is trying to break the support of 110.70, but so far we have not seen this. The chances of going down and breaking support are available as long as the trading remains below 111.15.

The risk levels for the yield are now suitable for us to bet on further downside, but before closing this week, if the pair fails to hold below 110.70, we will close all our positions.

From here, the pair may well sell below 111.00 and expect to take profit in two stages at 110.40 and 109.90 and stop loss above 111.30.