Fundamentals:

After Abe’s victory in Japanese elections, USDJPY breakout the decent downtrend resistance and tested 114.100.

Profit taking/Sell the fact underway? – The decline from the high of 114.10 could be due to profit taking on the JPY short initiated ahead of Sunday’s Japanese elections. Moreover, the majority of the financial markets had already seemingly priced in the victory.

Technicals and Key Levels :
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USDJPY-DAILY-CHART

Source: https://www.fxters.com/usdjpy-forecast-technical-analysis/

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