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Mar 07 - 11:00 AM
USD/JPY: Consolidation In-Play; Sell Rallies Towards Falling Trend Line Around 112.65 - ING
First appeared on eFXplus on Mar 07 - 09:00 AM

ING discusses USD/JPY technical outlook and maintains a bullish bias on a multi-days basis and recommends selling such potential rallies into 112.65.

"The daily chart shows a successful consolidation above the former horizontal resistance around 111.70, suggesting higher prices within the short-term uptrend should be expected. Next strong resistance comes in at the falling trend line around 112.60 with the short-term bullish target unchanged at 112.95," ING notes. 

"We recommend selling the rallies towards the falling trend line around 112.65," ING adds. 

Source:
ING Research/Market Commentary

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