Turning Down
Our Pivot: 129.85
Our Preference: Short sell below 129.50 with strict stop loss of 129.85 and profit target at 129.00 with extension towards 128.70.
Alternate Scenario: Upward penetration of 129.85 will call for 130.15.
NOTE: USDJPY is caged inside an ascending wedge and its being capped by strong horizontal resistant region.
Chart with supports & resistances:
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