USD/JPY Current price: 121.42

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USDJPY

More losses expected below 121.00. The USD/JPY has tried to recover some of the ground lost earlier this week, but failed to do so and maintains a  clear bearish tone, with sellers now surging on approaches to the 122.00 level. From a technical point of view, the  1 hour chart shows that the price is well below the 100 and 200 SMAs, with the shortest accelerating lower below the largest, whilst the technical indicators maintain bearish slopes below their mid-lines, in line with further declines should the price fall below the 121.00 figure. In the 4 hours chart, the technical indicators have resumed their declines after barely correcting extreme oversold readings, in line with the shorter term view.

Support levels: 121.00 120.70 120.30

Resistance levels: 121.80 122.20 122.60

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