USDJPY is under pressure and set to break down through 105.400 as long as price holds below the 105.600 zone. We are watching for a break down through the level and then a retest and hold as sellers take control for a squeeze on recent buyers. Price failed to break up through the 105.750 zone so we expect to see a run lower soon. If price pushes back up to test 105.700 again then the setup may be off the cards.
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