Technical Analysis: USD/JPY - Thursday, Oct. 16
USDJPY fell below the first support at 150.90 as the market still faces a second support around 149.75.
As we advised before and if the market holds above the support of 149.75, the advance wave could sustain toward the target of 154.65.
Below 149.75 the market could add more of a drop toward 147.45.
Prices might not test the support at 149.75, as it is important for the advance wave to remain above this level.
| SUPPORT | RESISTANCE | |
| LEVEL1 | 149.75 | 151.70 |
| LEVEL2 | 147.20-45 | 153.25 |
| LEVEL3 | 145.45 | 154.65 |
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