Bears managed to break support in 116.10 area which stopped decreases since 2014. Since then USDJPY decreased 200 pips.

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Looking at lower time frame we can see that after dynamic decreases there was break in form of consolidation which took form of triangle. Since the morning price is rising and is getting close to resistance created by upper band of triangle. Trend stays strongly bearish, so we should see its continuation which can happen after breaking of lower band of pattern. The target for decreases would be a support at 112.50 where we saw bullish gap. This level is also a high of big trend candle what strengthen its credibility. If the rebound from triangle will be up, bulls can lead the price to resistance at 116.10 where we should see reaction of bulls.

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