USD/JPY resumes a decline

The USD/JPY pair after another repulse from the level of 111.50-60, went down to a decline, which indicates an elongated formation of the “double top” model and a tendency to decrease. Significant support is the zone 111.20-00, consolidation of the pair below it will open the way to the support levels: 110.50 and 110.20-00, which, in turn, act as the lower boundary of the trade channel. Resistance is located at the levels: 111.30 and 111.60.

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