USDJPY is experiencing massive bearish pressure from our descending resistance line and we are seeing major resistance at 106.41 ( Fibonacci retracement , horizontal overlap resistance). A drop could occur from this level to push price further down to 105.29 support ( Fibonacci extension , horizontal swing low support).
RSI (34) sees a descending resistance line add to our overall bearish sentiment on USDJPY .
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This analysis is provided as general market commentary and does not constitute investment advice.