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USD/JPY - Negative Reversal Signal Suggests Further Downside

USD/JPY has been holding above 105.50, which is a critical support at the moment. This week however, price action is suggesting further downside. 

USD/JPY Daily Chart

(click to enlarge)

Negative Reversal:
- The daily chart shows that the RSI made a higher high  while price made a lower corresponding high.
- This is call a negative reversal signal and suggests another swing down, which would likely break the 105.50 support.
- If so, we might see price head towards the 100.00 psychological mark.  

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