As a result of overnight falls USDJPY broke important support at 110.30. If declines will continue we expect closing of the bullish gap from April 24th and perhaps even re-test of 108.25 area. It is worth noting that recently broken support was still not tested from the bottom (as a resistance). Such re-test would be a good opportunity to join declines. In short term, therefore, it is worth considering short position on this instrument.
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