The USDJPY fell slightly overnight but continues to trade along the support area of 146.70.
As the price consolidates but fails to trade lower from this support level, look for a recovery in the strength of the DXY, which could cause the USDJPY to rebound higher, toward the interim resistance 148 to 149 price area.
However, if the price breaks below 146.00, the USDJPY could trade significantly lower toward the next key support and round number level of 145.00.
As the price consolidates but fails to trade lower from this support level, look for a recovery in the strength of the DXY, which could cause the USDJPY to rebound higher, toward the interim resistance 148 to 149 price area.
However, if the price breaks below 146.00, the USDJPY could trade significantly lower toward the next key support and round number level of 145.00.
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