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USD/JPY broke major support level 108.30

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  • USD/JPY broke major support level 108.30
  • Next sell target - 107.00

USD/JPY today broke below the major support level 108.30 (which stopped the previous sharp impulse waves (1) and 1, as can be seen from the daily USD/JPY chart below). The breakout of the support level 108.30 continues the active strong downward impulse waves 3 and (3). If the pair closes this week below the support level 108.30 – this will multiply the bearish pressure on USD/JPY in the coming trading sessions. USD/JPY is expected to fall to next sell target at the next support level 107.00.

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