USDJPY: price falls as USD weakens!

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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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