Yen has convincingly broken below the symmetrical triangle pattern, that it has been mostly trading in since late August / early September. Dollar weakened across the board yesterday and the pair fell nearly a cent while the daily range was wider than that.

118.25 - 118.50 is the support level to watch and, if it gives way, we may see a retest of the August low just above 116. Area between the pattern bottom (119.75) and its mid point (120) is likely to act as a solid resistance now.

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