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USDJPY : Weak Correction Signals Bullish Pattern

USDJPY almost traded in a sideways pattern yesterday after the significant surge in the pair. On the hourly chart of USDJPY we can see that the pair was consolidating within a symmetrical triangle and broke out from the support trend line after reaching the apex of the triangle. However the pair found support at 102.04 and again surged to its previous support line. The correction in the pair doesn’t seems strong enough and thus signal that the bullish trend still weighs. The pair might break the 102.31 level by the end of today’s session. The nearest support if the pair breaks the current support at 102.04 is at 101.85 and the nearest resistance the pair will find is at 102.53 if it breaks the current resistance at 102.31.