Let’s pull up the USD/JPY hourly chart.
Look for a potential continuation of the recent downward movement as we continue in this sideways channel. We have already passed the 61.8% Fibonacci retracement levels, however, also watch for the 80% Fibonacci level as well.
Also, watch for support levels around the 81.90 & 81.40 marks.
Trade with caution and be sure to apply your money management.
Good luck with trading and we’ll see everyone again tomorrow.
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