USDJPY: price falls as USD weakens!

Hello dear friends! USDJPY is going against other currency rivals and experiencing downward pressure. The continuous weakness of the USD is the only suitable scenario to prevent the USD/JPY exchange rate from continuously rising. The currency pair has formed two peaks at 151.70, which will serve as a significant barrier to any potential recovery of USDJPY.

If the current trend continues, there is a possibility that USDJPY will further decrease to 149.100 after a slight rebound to the 0.618 Fibonacci level.

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