The Pair is at important fib Retracement level from the june 2015 peak. The pair is also at important resistance level, I would expect the $USDJPY pair reach the 61.8 - 76.4 fib retracement level which represent the strong resistance level at 122.65 - 123.00.
Trade : Sell the pair from 122.65-123.00, TP1:121.00, TP2:118.75, SL :123.65
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