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Usdjpy technical analysis

Usdjpy fell from 110.20¥ to the low of the day 104.50¥ , the pair is currently trading at 107.50¥

Look at below chart. What will you see is a rising trendline on the weekly time frame. If we close below that Line , the pair will be having more amounted pressure and it may fall to below 100¥ mark within short period...

That level (104.50¥) is critical support for the pair and the last line of defense. A break below will start a new bearish trend for the pair which might send it back to 80¥ area again, level not seen since 2013.

If the pair finds support , we will have first resistance at 109.60¥ followed by 112.40¥ 

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