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USDJPY: position analyses

Extremely sensitive to geopolitical circumstances in Syria and main risk-on/off indicator, this pair is in anticipation of major events in the coming days.

In the meantime, large option expiries around $1.1bln at 107.00 likely to prove as attraction level.

We see short-lived impulses down  so intraday support is @ 106.36. Break above 107.15 will also serve as a short-term day trading buy signal.
USDJPYH1

USDJPY 1H

Now,  H4 chart clearly demonstrate medium- term play probability is BUY on break-out of 107.15 and additional add-up to position if price declines to 106.67 and 106.36 area. Stop needs be placed below this strong supports – somewhere 40-50 pips below.

USDJPYH4

USDJPY H4

This stop is important should the pair goes strongly down due to possible risk-off. This is clearly can be seen on below daily chart. The pair is on extended down trend so this up-ward correction could end up at any time.  

USDJPYDaily

USDJPY D1

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