As the DXY weakened overnight, the USDJPY continued its slide to the downside, breaking below 137.77 to reach a low of 135.40.
Look for the USDJPY to continue with the current downtrend, trading lower toward the next key support level of 131.45.
However, if the DXY recovers in strength as the markets head toward the weekend or from stronger-than-anticipated employment data, the USDJPY could consolidate or rebound briefly. But this could be considered a relatively unlikely scenario.
Look for the USDJPY to continue with the current downtrend, trading lower toward the next key support level of 131.45.
However, if the DXY recovers in strength as the markets head toward the weekend or from stronger-than-anticipated employment data, the USDJPY could consolidate or rebound briefly. But this could be considered a relatively unlikely scenario.
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