USDJPY approaching support, potential bounce!

USDJPY is approaching our first support at 111.25 (horizontal pullback support, 61.8% fibonacci extension, 23.6% fibonacci retracement) where a strong bounce could occur pushing price up to our resistance at 114.86 (horizontal swing high resistance, 100%, 61.8% fibonacci extension, 76.4% fibonacci retracement).

RSI (34) is approaching support where we might see a corresponding rise in price should it bounce off this level.

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