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Fan Yang

USD/JPY Continues to Break Support Levels

After failing to clear a critical resistance around 114.50, $USDJPY has been sliding. We last saw USD/JPY at a recent consolidation support around 112.50, and anticipated a bearish break with a target of at least the next support pivot at 111.

USD/JPY Daily Chart

(click to enlarge)

111 Breaks:
- The daily chart shows that after price broke the 112.15 support, it went straight to the 111.00 pivot and cracked that support as well.
- The next critical support will be around 118-118.20,

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