USDJPY Weekly Analysis – Sunday, August 2

USDJPY rebounded strongly from 104.18, suggesting that the downside movement from 109.84 had completed. Further rallying will likely be seen in the coming days and the target will be at the falling trend line on the daily chart.

Support is at 104.18, and only a breakdown below this level could trigger another fall towards 101.00.

USDJPY daily chart

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