Hello Traders,

last week Friday, we had the release of the US job data, the market witnessed strength in the USD. Most currency pair moved hundreds of pips within a few hours. The USDJPY stood almost as an exclusive exception to this rule, changing by only about 80 pips. This got my attention.

After doing a little bit of technical analysis on this pair over the weekend, I observed that price might be ready for some decent 300 - pip rise.

Support on 4hr time frame at 111.06 and within the micro-structure of the weekly candle lies a "last line of defence" at 110.7x

As I type, price is presently trading a few pips lower than this last line of defence and I expect the pair to rise by about 300 pips.

Let's leave the market to be the final arbiter on this one as always.

Happy trading everyone.
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