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The USDJPY price breaks the support – Forecast today - 08-11-2024
The USDJPY price bounced downwards strongly yesterday to break 153.65 level and settle below it, to fall under expected negative pressure in the upcoming sessions, targeting testing the bullish channel’s support line around 152.10 as a next negative station.
Therefore, the bearish bias will be suggested for today, and it is important to monitor the price at the targeted level, as breaking it will extend the bearish wave to reach 151.09 areas, while breaching 153.65 will stop the current negative pressure and push the price to resume the main bullish trend and achieve positive targets that start at 155.00.
The expected trading range for today is between 151.90 support and 153.50 resistance
Trend forecast: Bearish
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