USDJPY Technical Analysis 22-01-18

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As we advised last week and as we can see from our previous chart, once the market broke below the 112.10 point, the downtrend wave started to control the market.

As long as the market holds below the 112.10 point the downtrend wave should sustain towards the 109.50 target. Should the market go below we will be expect a drop towards the 108.20 zone.

Above the 112.10 point, the market may give signals for a further advance towards the 113.70 zone.

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