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Forex Trading – Week of February 19, 2017

Current price of USD/JPY is 112.79 and the short-term bias is bearish.  Price has been dropping since the most recent high of December 15, 2016.  A pullback back to the 38.2%-50% fibonacci retracement levels stalled at resistance and has moved slightly lower.  Forex traders looking to sell this pair should expect to find support near the 110.20 and resistance in the 115.00 area.

USDJPY Forecast