Further upside possible for JPY Index

Further upside possible for JPY Index
Written by:
John Adam
2nd July 2014
Updated: 5th March 2020

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As suggested yesterday, we have pushed away from the channel range as a function of USDJPY strength and we are now retesting the recently broken symmetrical triangle top. If this acts as support and holds or the level below (the bottom of the triangle), then we may see some further upside for the JPY% index and perhaps attempt to break the range to the upside. We’ll have to see how the market reacts to this support level. I am bullish JPY% until below nearby support
**JPY% Index Resistance (USDJPY Support): USDJPY 101.14, 100.70**
**JPY% Index Support (USDJPY Resistance): USDJPY 101.63, 101.82, 102.74**

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