Pick of the Day 29 April 2022 USDJPY

　　

USDJPY Intraday: bullish bias above 130.15.

Pivot Level: 130.15

Our preference:
Long positions above 130.15 with targets at 131.25 & 131.50 in extension.

Alternative scenario:
Below 130.15 look for further downside with 129.80 & 129.50 as targets.

Comment:
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

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