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USDJPY: Bulls Rebound!

4hr Time Frame: Notice how price managed to break and close above 109.500 key resistance and turned into newfound support. We also have the higher time frames showing signs of bullish continuation and if price manages to stay above this new support, we can potentially see new highs like 110.250 key resistance. However, if price manages to break below 109.500 and 109.250, then look to reevaluate price action. Due to the uncertainty of market fluidity, risk management is highly recommended.


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