USD/JPY Heading Towards 1.618 Fibonacci Level In Uptrend
The USD/JPY chart is currently showing an uptrend with the possibility of approaching important Fibonacci levels. After a correction to the 0.382 area around 153.0, the pair is likely to bounce and head towards 0.618 at around 154.1, with the possibility of further advance towards the higher target of 1.618 at 158.3. The EMA(34) and EMA(89) below provide strong support, indicating that buying pressure remains dominant.
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