Pending Long USDJPY

The USDJPY halted the six-day decline, with the exchange rate rising to a high of 89.38 during the overnight trade, and I am certainly expecting to see a short-term correction over this week as the pair maintains the broad range carried over from January. As a result, a have placed a long entry at 89.51, last Friday’s high, and will target 50-Day SMA at 90.85, with the stop at the psychological level of 89.00.

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