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    Technical analysis of USD/JPY for June 16, 2016

    USD/JPY broke through important support. A weekly close below 105.50 will be a very bad signal for bulls. The trend remains bearish as long as price is below 107 targeting 101-102 at least.

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    USDJ/JPY is in a bearish trend. Earlier today, it broke below a double bottom at 105.50 and below the long-term 38% Fibonacci retracement. That is why the decline towards 103-104 was so sharp. Next support is at 102-101.

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    the confirmed important low at 105.50. Any bounce towards 105-106 could be seen as a sell opportunity.


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