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USD/JPY Signal - USD ADP Employment Data - 3 Feb 2021

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Signal Details
Entry Price: 
104.95
Take Profit: 
104.600
Stop Loss: 
105.250
Direction: 
Sell
How we trade
Average: 5 (1 vote)

USDJPY has rejected out of the 105.15 pivot prior to the ADP employment data, which measures the change of the number of people employed in the US. Recently NFP data has been quite negative, so we may see more negative employment data out of the states. Technically the pair is below the 105.15 pivot and we anticipate downside into 104.600.

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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.