Intraday bias in USD/JPY is still mildly on the downside as the correction from 110.08 short term top continues. Deeper decline might be seen but downside should be contained by 38.2% retracement of 101.08 to 110.08 at 106.64 and bring rally resumption. Above 110.08 will extend recent up trend to long term fibonacci level at 111.62.
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