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Daily Technical Outlook And Review: USD/JPY

USD/JPY is under renewed pressure and further losses seem likely. The Fibonacci levels of the June/July rally have been respected recently. USD/JPY had a solid bounce off of 111, but the recovery has been rather weak.

Resistance is now seen at the former support level at 111.70. To the downside, a break sub-111 would signal another move towards 110 support.

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