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A quick move expected on USD/JPY as it starts approaching a support line of a Rising Wedge

USD/JPY is heading towards the support line of a Rising Wedge and could reach this point within the next 3 days. It has tested this line numerous times in the past, and this time could be no different from the past, ending in a rebound instead of a breakout. If the breakout doesn’t happen, we could see a retracement back down to current levels.

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We expect a $62.242 movement on ZB within 12 hours following the event release at 17 Sep 23:50.

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FRA40 – approaching a resistance line that has been previously tested at least twice in the past

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