Yen Testing Major S&R Level

28 May - USDJPY Weekly Forex Chart

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In case you have not noticed, Price of the Japanese Yen is now testing a very interesting level. This Major Resistance level was last tested in July 2007 and price has not been back here since.

As Yen continues to weaken, will price (USDJPY) moves higher? My gut feeling tells me is just might as price has been moving higher since 2012. And when price does break above with conviction, I’m looking for more long set ups.

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