According to the daily chart, “buy on the dips“ strategy is indicated for this pair above RSI 50 indicator. The target might be 122.50 in the next 7 days.
The USD/JPY pair is in a range on the weekly chart. According to the MACD which has been negative for many weeks, this pair might break soon the range above 120.50 in order to rise at 123 price level.
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