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USD/JPY reversed after edging upper to 146.48 remaining week. Initial bias now again at the problem this week for retesting 139.57. But robust beef up may well be observed once more from 139.26 fibonacci stage to deliver rebound. However, company ruin of 139.26 will lift higher bearish implications.
In the larger image, fall from 161.94 medium time period most sensible is observed as correcting complete up pattern from 102.58 (2021 low). Strong beef up may well be observed from 38.2% retracement of 102.58 to 161.94 at 139.26 to include problem, no less than on first strive. But in spite of everything, chance will keep at the problem so long as 149.35 resistance holds. Sustained ruin of 139.26 would open up deeper medium time period decline to 61.8% retracement at 125.25.
In the longer term image, it’s nonetheless early to conclude that up pattern from 75.56 (2011 low) has finished. However, a medium time period corrective section must have commenced, with chance of deep correction against 55 M EMA (now at 133.19).
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