Usdjpy is now on downward rally. We can see big fall on this pair. This pair has broken its recent support level also. 118.20 level was support for this pair. Now this level has become resistance for this pair. This pair has retest of that level and fall again.
Next target for this pair is 116.45 level. Big bearish candle has been formed on the daily chart. So this pair will face bearish pressure on the next week. So we need to stay on bearish mode on this pair.
For sell entry, we can set our target at 116.50 level.
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