the usd / jpy pair broke down, but did not confirm a deeper correction.
after the event, which was a major rally up break in the range of 112.30 / 113.20, we observed a break lower on tuesday.
the threshold of the 112.30 gave to fall in the direction of the 112, usd / jpy has found support in this area, resulting in a new phase of consolidation with resistance around 112.50.
in the event of a break above the resistance, we might have an increase in the direction of the 112.85, and 113.20 113.00.
the decline, there will be a break below for the 112.00 downward correction in the direction of the 111.60 initially.
below, the fall could then continue to 111.00 / 110.75.
the usd / jpy pair has to 112.35 on forex.
usd / jpy graph h1
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