The break below 110.00 is postponed indefinitely. The unsuccessful testing of this support caused an upward correction and the formation of a reversal candlestick pattern on the daily chart, while the strengthening of the dollar across the whole market caused an upward movements of the pair.
Today USD/JPY has grown by 0.35% and now is trading in the area of 110.75, above the key level of 110.60. The daily closing above this level will increase the chance for further development of the bullish correction with the target of 111.00.
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