The Dollar Yen pair UsdJpy has shown some impressive recovery from the support zone last week as the the pair has managed to push over 150 pips since touching the support zone after the United States dollar showed improved recover from the pandemic which resulted in more investors buying the dollar.
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Below is the previous Trade Setup of the UsdJpy Setup in which price reacted on the support zone resulting in a price surge of over 150 pips up within a period of one trading week.
Below we have this weeks setup on The UsdJpy and we are currently bullish on the pair as the market has not reached our intended price target of 106.450 but currently on a channel support. we would be looking forward buying at the current retracement as price currently rests above the channel support marked in Pink rectangle.
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