As expected, price made its way lower following the June 17th Pin bar and a profit target around 122.00 would have seen a good profit with this trade.

Today, price has cut down through this Key level and it looks like the next major support area is down around 118.4 – 118.8.

A conservative strategy here might be to see if price pulls back up towards this previous level of support where we can watch for a price action sell signal.
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Below is the USD/JPY daily chart….As always, make your own trading decisions and the best of luck with your trading.