USDJPY's downward movement from 77.48 extended further to as low as 75.74. Key resistance is at 76.47, as long as this level holds, downtrend could be expected to continue, and next target would be at 75.00 area. On the upside, a break above 76.47 will indicate that a cycle bottom has been formed at 75.74 on 4-hour chart, and the fall from 77.48 has completed, then another rise to test 77.85 resistance could be seen.

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