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Technical analysis: USDJPY trend is up

USDJPY Tech analysis by Simon Kazinsky on 21:03 April 12, 2015 EST


USDJPY remains on a clear uptrend. From an Elliot Wave perspective, the pair appears to be forming a triangle on a 4th wave, which means that a final push is on the cards.

Taking into account the previous maximum divergence between price and the supporting moving average on the weekly the target is presently above 127.

Long term support is above 110. The overall structure remains constructive.

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