USDJPY: We are heading down... 90's 80's and even 70's possible!

The pair couldn't break out of the current down channel it is in as we have expected earlier on and now it's looking more likely that this channel is not complete and even we may get a break below the channel for more downside as the overall fundamentals are driving this pair down like crazy unless BOJ is able to do something that can stop the appreciation of the JPY which may need some more muscle provided the uncertainty in the global markets and JPY being a safe haven.

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