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USD/JPY could tank to 136/135.50 in case July peak of 139.40 fails – SocGen

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USD/JPY finished the higher restriction of a multi month channel at 146 after which a sharp response has taken shape. The pair ought to fall as low as 136/135.50 on failure to keep above July top 0f 139.40, analysts at Société Générale report.

Initial resistance aligns at 143.80
“Break under the decrease band of latest vary highlights opportunity of a non permanent pullback.”

“Next help is positioned at July height of 139.40. In case the pair fails to shield it, the down go is in all likelihood to lengthen toward 138.10 and even toward the decrease restriction of the channel at 136/135.50.”

“First resistance is at 143.80.”

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