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Nov 15, 2018
USDJPY FALLS UNDER TRENDLINE SUPPORT
The US dollar has broken to the downside against the Japanese yen, following a strong move lower in US equity markets on Wednesday. The USDJPY pair has broken below key trendline support from the well-defined rising wedge pattern on the four-hour time frame. Additional intraday selling pressure will be placed on the USDJPY pair if price trades below the 112.94 support level.
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The USDJPY pair is intraday bearish while trading below the 113.89 level, key technical support is now found at the 113.28 and 112.94 levels.
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If the USDJPY pair trades above the 113.70 level, buyers may test the 113.89 and 114.19 resistance levels.