I just noticed the double bottom that has formed on the four-hour time frame. I think the pair will continue retracing, especially considering that double bottom, and its first target would be around 109.00.
Fed interest rate yesterday lead the usdjpy back to downtrend moves its probably will lead to test again the lower sides and even lower ,we can see there is more room for going down follows strong moves by the expectation, don't surprise if we will see usdjpy going lower over the last lows, if usdjpy will find support on 106.70 so it can be a good point to test some long but if it will not we need to expect even stronger moves the lower side for downtrend for 104 area
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