Bearish price action on USD/JPY, a daily chart of which is shown, has just made a new 6-week low and is currently targeting a re-test of the key 88.00 support level, which was last hit in early October. This occurs after price broke down below a triangle consolidation pattern in mid-November. Overall, this currency pair is firmly entrenched within a parallel downtrend channel extending from the April high at 101.43, and the general bias within this channel continues to be bearish. For more technical analysis on this currency pair,
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