USD/JPY Forecast. Forex Analysis

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The USD/JPY showed strong bearish momentum after the breakout which means that the current bullish price action could be a retracement within the trend. A bearish bounce at the Fib levels could indicate a continuation towards the round levels of 110.50 and 110.

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The USD/JPY bearish momentum could be a wave 3 (blue) and the current bullish price movement could struggle at the Fibonacci levels if this is a wave 4.

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Origin: Admiral Markets

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