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T3-Consultancy

USDJPY H1: Bearish outlook seen, further downside below 140.00

Short
U.S. Dollar / Japanese Yen (FOREXCOM:USDJPY)  
T3-Consultancy  
FOREXCOM:USDJPY   U.S. Dollar / Japanese Yen
Trend Analysis Harmonic Patterns Chart Patterns DJ FXCM Index USDJPY usdjpyshort usdjpybearish Forex forexsignals forextrading
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trendanalysis harmonicpatterns chartpattern usdollar usdjpy usdjpyshort usdjpybearish forex forexsignals forextrading
Price is hovering below a key resistance zone at 140.00 on the H1 timeframe, which is in line with the 38.2% Fibonacci retracement. A pullback to this zone could present the opportunity to play the drop to the next support zone at 138.80, which coincides with the 78.6% Fibonacci retracement. Price is holding below the Ichimoku cloud, supporting our bearish bias.
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