The USDJPY continues its run to the downside and trades to the lowest levels since May 16. In the process, the price is moving below the 50% of the move up from the March low. That level comes in at 154.209 and is now close resistance. The low from May 16 comes in at 154.57. That is the next target for sellers. Yesterday, the USDJPY fell below the 100 day MA and the swing low from last week at 155.368 shifting the bias more to the downside. The breaking of the 50% of the move up from the March low is another key target to get to and through. This article was written by Greg Michalowski at www.forexlive.com.
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