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USD/JPY 4-hour chart

  • The USD/JPY is trading above its main SMAs suggesting bullish momentum in the near term.  
  • The market is trading in a sideways consolidation as bulls will need to break above 112.00 in order to travel towards 112.75 resistance.  
  • As the recent USD strength seems to be overdone a pullback down should not be excluded with 111.55 as key support followed by 110.86 to the downside.

 

Additional key levels