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Forex

USD/JPY Drops Below 155.00 Amid Steep Correction

Guavy AI Editorial Team
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USD JPY
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The USD/JPY currency pair has experienced a significant decline in recent weeks, dropping from 163.97 to below 155.00. According to technical analysis, this downward trend may be a correction of the entire rise from 139.87, with initial support seen at 154.76.

While the short-term outlook remains bearish, analysts caution that firming resistance above 160.87 could lead to a reversal in fortunes for USD/JPY.

In the bigger picture, the larger up trend is still expected to continue through 163.97 after the current correction completes, provided that 155.01 structural support holds.

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