The USD/JPY currency pair remains in a short-term bullish trend, which has continued to make new highs, despite recent volatility. It has now generated an up-side target of 99.80 calculated from the most recent trough lows. Currently price is falling quite strongly, however, and I would want to see a break above the current 98.95 highs before expecting the rally to continue to the 99.80 target.
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