Currently, USD/JPY is trading at 107.20 moving towards its neckline, from the last week this pair is in a downtrend and possibly it will continue the same trend for some time. If the price breaks the neckline at 107.06, then it may hit its nearest support level at 106.09.
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Rishikesh Lilawat has over seven years of experience in trading Forex and commodities markets, out of which three years in two investment banks as a professional Forex and commodities trader. He holds an M.B.A degree in finance and business analytics from the University of Pune. Realizing the central role of a trader and because of his personal and particular interest in trading, He built skills in market research, technical analysis, fundamental analysis, risk management, and fund management, etc and focus his efforts on communicating and sharing views on market trends and patterns.