Participant

This pair formed a shooting star yesterday on the day chart with today’s price action confirming the probable turn around and retracement to the 23.6% Fibonacci line at 187.837. If that support doesn’t hold the next support level would be at the 38.2% line at 185.361
The second line seems like a big retracement, it may be too far away as the Yen looks weak against all major currencies and should in theory weaken further against currencies that have already stopped quantitative easing.

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