Usd jpy pair this week closed with heavy loss. As dollar index slides we saw strong buying as well as short covering in yen and closed at week high. Usd jpy has achieved my target of 106.5 and now expect next target around 104. For next week, usd jpy outlook remain bearish and trading strategy will be sell on rise. Usd jpy weekly chart support zones are 104 and 102 while on upside 108 and 110.8 are resistances as well as fresh short positions entry zones on bounce back. Usd jpy monthly chart suggesting below 105 expect lower levels up to 100 to 98 for yen dollar pair.
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