The USDJPY broke below the support zone between 78.15/00.  The next level of support is below is at 77.65. A hold or break of this level will be critical for the short-term direction of the pair.  A break below this level exposes the cross to the yearly lows around 76.  Plus, the conversation will once again shift to possible intervention in the pair.  Resistance is at past support  at 78.

Sup   77.75

Res   78

 

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