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Technical Analysis: USD/JPY

The pair is trading in a range, limited by the 50-Day SMA and the 100-Day SMA. Now risks are still mixed, and from current levels we could either see...

The pair is trading in a range, limited by the 50-Day SMA and the 100-Day SMA. Now risks are still mixed, and from current levels we could either see a new attempt to break above the 100-Day SMA and reach the 200-Day SMA by 79.50 or a decline below the 50-Day SMA towards the 75.55 low. Both options have almost equal probabilities.

Edward Smith, technical analyst of company Admiral Markets.

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