USD/JPY is in an overall uptrend ( in the short period) during this month the pair dropped around 250 points.
The expectation is for the price to move down till a support level.
Weekly chart:
Weekly chart shows a long term tunnel in which the price ranges from 114 to 104.
A breakout to the upside is certainly possible.
Daily chart:
On the daily chart the possible scenario is described.
I think the price will move down to the nearest strong support level.
But i do not excl…
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