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Dollar A.S. / Yen Jepang
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17 Jan
USDJPY: Very Bearish Sentiment
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USDJPY had been consolidating significantly since mid-December, trading within a large horizontal range on a daily timeframe.
However, following the release of certain fundamental news, the currency pair appears to have a strong bearish outlook.
The breakout below a support line within the range suggests that a bearish accumulation phase has been completed.
This could lead to further declines, with attention now turning to the next support level at 154.4.
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