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USD/JPY Bears Are Still In Control

The USD/JPY has reached the confluence zone and we might see a drop.

The 111.20 zone has been hit and the price is hesitant to move further up. At this point we could see the move down which might become more potent during the US session. Yesterday, equities were bearish and that also reflected in the USD/JPY move. Yen up, equities down. Targets are 110.73 and 110.60. This is an intraday setup.