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USD/JPY Price Pushes Past 102.00

Published 05/13/2014, 06:58 AM
Updated 07/09/2023, 06:31 AM
USD/JPY
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  • USD/JPY Technical Strategy: Longs Preferred
  • Push back above 120.00 opens 102.70
  • Harami pattern supports further gains
  • The USD/JPY’s push past 102.00 following the Harami formation on the daily puts the next noteworthy resistance level at 102.70 on the cards. The absence of a bearish signal on the daily and four hour charts gives little indication of a potential intraday reversal.

    USD/JPY: Price Pushes Past 102.00 Following Harami Pattern

    USD/JPY Daily Chart

    An examination of intraday price action on the chart below highlights the hesitation from the bulls near 102.00. However, following a push past the psychologically-significant level of resistance USD/JPY is eying the 102.70 mark.

    USD/JPY: Hammer Foreshadowed Recovery

    USD/JPY Hourly Chart

    Original post

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