Let’s take a look at the USD/JPY daily chart.
We can a pretty strong downward trend line as we start testing the low from March 2011.
Look for the pair to potentially head down a little further – potentially to the 76.00 – 75.00 level. Once the current downward movement fizzles out, then look for the pair to head back up to 78.00 area and above.
Good luck with trading.
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