USDJPY Trade Idea

UJ is currently in a range bound condition after an extended downtrend. In yesterday's forecast, I expected the market to break above the 103.70 resistance, however, as the trendline is broken, a short-term bearish momentum back to 103.000 previous swing low is expected. Due to the recent dollar weakness, if the 103.000 support zone is violated, we could expect further downwards pressure towards 102.000 - 101.000.

Trade safe.

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