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Woke up the previous morning to see that USDJPY tried to break 101 in the last hour of US session, hitting a high of 100.84.

Then it came down to 100.25 and recovered to 100.65 when I turned on the computer at 10:15am.

I followed the price action till about 2pm in the afternoon Asia time where it hit a high of 100.89 then started coming off, so I decided to square my cash position at 100.80, for a trading profit of 0.85 yen.  Not a bad trade.

The thing now is whether or not there is a case to short USDJPY whenever it hits near 101 or 102???

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