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Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

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USD/JPY Approaching Support, Prepare For A Bounce

Price is approaching first support where we are expecting a bounce from this level.

Entry : 111.390

Why it's good : horizontal swing low support,61.8% fibonacci retracement, 100% Fibonacci extension

Stop Loss : 111.206

Why it's good :76.4% fibonacci retracement, horizontal pullback support

Take Profit : 112.020

Why it's good : horizontal swing high resistance, 61.8% fibonacci retracement.100% Fibonacci extension

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The material has been provided by InstaForex Company - www.instaforex.com