Sasha Singh
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USDJPY : Testing Key Support at 101.71

USDJPY seems bearish on the hourly chart. According to the descending triangle, the pair should break the resistance trend line and continue to follow this downtrend. However if the pair breaks the resistance trend line of the descending triangle it will reverse the downtrend and move in upward direction. The 50 day moving average is trading below the 100 day moving average and the pair is also trading below the 50 day moving average showing a bearish movement.