USD/JPY Forecast. Technical Analysis

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The USD/JPY is still in its choppy bearish trend channel. A bullish breakout could test the resistance levels of wave X (pink). A bearish breakout below the 23.6% Fib could see a drop lower to the Fibonacci levels of wave 2 or wave B (light purple).

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The USD/JPY is testing the Fibonacci support and trend line (green).

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Origin: Admiral Markets

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