USDJPY has been in a heavy consolidation for an extended time now and it looks poised for a large breakout. In the scenario of a bullish breakout we will initially target 16.500 and after some consolidation could likely head higher towards 107.00. Any close below the 4H 200SMA will invalidate the long idea
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Breakout has happened to the downside with a target near the Monthly S1 Pivot @ 105.00. See