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USD/JPY Signal - JPY Leading Economic Index - 28 Jul 2021

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Signal Details
Entry Price: 
109.820
Take Profit: 
108.750
Stop Loss: 
110.480
Direction: 
Sell
How we trade
Average: 5 (1 vote)

USDJPY is trading to the downside today prior to the JPY Leading Economic Index, which is an economic indicator that consists of 12 indexes such as account inventory ratios, machinery orders, stock prices and other leading economic indicators. With the Tokyo Olympics providing a boost to the JPY economy it is likely to see positive figures. Technically the pair has broken the ascending trendline and has made a correction in the downtrend, giving a perfect entry opportunity for sells. We expect downside into the 108.750 level.

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Disclaimer: The article is written for informative purposes only and it is not financial advice. The author does not have any position in the currency pairs mentioned, and no plans to initiate a position. He wrote the article himself and expressed his own opinions. Readers should not treat any opinion expressed by the author as a specific inducement to make a particular trade or follow a particular strategy, but only as an expression of his opinion. All risks and coasts associated with online trading are your responsibility.