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Forex Analysis & Reviews: USD/JPY: downside continuation from below 133.75
time 02.12.2022 07:12 PM
time Relevance up to, 03.12.2022 07:12 PM

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USD/JPY Strong Sellers!

The USD/JPY pair increased a little today only because the US reported positive economic data. The Non-Farm Employment Change and Average Hourly Earnings came in better than expected.

You knew from my previous analyses that the price could develop a larger drop if it drops below 137.65. Technically, today's low of 133.75 represents a downside obstacle. On the other hand, the minor downtrend line represents an upside obstacle.

USD/JPY Trading Conclusion!

Staying below the downtrend line and dropping below 133.75 activates more declines. This helps the traders to sell this pair again.

Ralph Shedler,
Analytical expert of InstaForex
© 2007-2023
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