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USDJPY breaks below key daily level on poorer than expected CPI

Short
U.S. Dollar / Japanese Yen (OANDA:USDJPY)  
fxsignals4pips  
OANDA:USDJPY   U.S. Dollar / Japanese Yen
Support and Resistance USDJPY usdjpyshort
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supportandresistance usdjpy usdjpyshort
USDJPY broke below a key daily level and remains tested as the longer upper wick indicates a retracement back to that daily level. Following disappointing CPI figures provides an indication that the labor market continues to tighten. On a technical stand point, this pair demonstrates a further bearish momentum provided that the retracement to the daily level remains tested and holds up.
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