USDJPY bids protecting the 108.50 barrier option have now also been cast into the forex wilderness
Earlier I warned of stop losses below that would take us down to 108.30 and we've seen 108.36 so far.
Next trance of bids comes in at 108.30 but larger into 108.00 where another barrier option defence awaits.
I can't see this decline ending anytime soon. Go with the flow and even if we do get a BOJ related spike (probably chatter based at this time) then continue to sell rallies.
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