Further upside possible for JPY Index

Further upside possible for JPY Index

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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**

By John Adam
John Adam was one of the Invezz Founding Partners & Lead Editor's up until 2017. John has an unmatched breadth and depth of experience in all things investing, and we wish him the best in his pastures new.

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