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- USDJPY is a Trading Star Now
USDJPY is a Trading Star Now
Selling the Japanese Yen can be a really great opportunity for traders now. The Yen has dropped to the levels it used to be when the Bank of Japan used to make interventions in the market. So, it is highly likely that the price of the Yen against the Dollar, Euro, and the Pound will keep going down until the regulator steps in to intervene.
Now, you might be wondering why we don't need to rely on statistics or complicated reasons to see this. And, it is because both the prices of cryptocurrencies and commodities are seen to be kind of stuck now. There are no large price movements, no big ups or downs. This means that if you want to make a good profit, you need some volatility. That's where a strong regulator can balance things out and create opportunities.
If we look at the USDJPY closely, the resistance level and the upside target is at around 143.00. If the price goes above 140 it will be a good sign to buy Dollars against the Yen.
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