USDJPY breaks below key daily level on poorer than expected CPI

USDJPY broke below a key daily level and remains tested as the longer upper wick indicates a retracement back to that daily level. Following disappointing CPI figures provides an indication that the labor market continues to tighten. On a technical stand point, this pair demonstrates a further bearish momentum provided that the retracement to the daily level remains tested and holds up.
Support and ResistanceUSDJPYusdjpyshort

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