(25 JUNE 2020)USD/JPY Target 107.65.

<p>Pivot</p>
<p>&nbsp;(invalidation): 106.85 Our preference</p>
<p>Long positions above 106.85 with targets at 107.45 &amp; 107.65 in extension.</p>
<p>Alternative scenario</p>
<p>Below 106.85 look for further downside with 106.65 &amp; 106.40 as targets.</p>

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