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USD/JPY Rebound Expected

Pivot (invalidation): 111.90

Our preference Long positions above 111.90 with targets at 112.35 & 112.55 in extension.

Alternative scenario Below 111.90 look for further downside with 111.60 & 111.30 as targets.

Comment A support base at 111.90 has formed and has allowed for a temporary stabilisation.

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