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USDJPY: Technical Outlook

Since the USDJPY drop below 122.00 level, it plunged to 116.18, however a bounce from the lows.

USDJPY re-test support-turned-resistance at 122.00 and it failed to surpass, and again USDJPY declined below 200-day SMA at 120.75 now acts like an immediate resistance.

My Plan:
– break below 118.30 could target 116.20
– break above 120.75 could target 121.70 – 122.00
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