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USD/JPY: bouncing downwards

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USD/JPY has been floating above 103.63 since January 14. After, it rose to trade in the resistance channel 104.00 - 104.10. But now, it's going down again. Will it drop to the original support channel of 103.53 - 103.63? Very likely. We have to assume that as the long-term perspective supposes further downward movement as it's evident from the Daily chart. 

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FBS Analyst Team

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