The USDJPY appears to be trading sideways for most of the year. The daily chart below, shows that 118.85 has become significant support as price has bounced from that level several times
Often in a range type environment, we can measure an equal distance from the high of the range to the low, to determine a possible target. The above chart has done exactly that to determine an approxiamete target in the case of a bearish break to be at 116.16.
The chart also shows a downward trendline in play as…
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