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FxWirePro: USD/ JPY heads deeper into bear territory, eyes 143.00 level

 • USD/JPY declined on Monday as the Federal Reserve's pronounced dovish stance continued to put pressure on the dollar.

• On Friday, Federal Reserve Chair Jerome Powell firmed expectations of the central bank starting interest rates cut from next month..

• The dollar dropped as much as 0.33% to 143.88 yen    marking its lowest level since August 5.

• The pair has seen 143.33 -144.32 range on Monday  , chart points to   drop towards 143.00 level.
 
• Immediate resistance is located at 144.23 (50%fib), any close above will push the pair towards 147.00 (Psychological level).

•  Support is seen at 143.50 (38.2%fib) and break below could take the pair towards 141.74 (Lower BB)

Recommendation: Good to sell  around 143.90, with stop loss of 144.60 and target price of 143.00

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