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This USDJPY drop is quite something. RSI is deep in oversold territory on the hourly, and we're sitting just above the S2 pivot. Honestly, it feels like a setup for a bounce. The market has been choppy, but usually these levels attract some buyers. We'll see if it holds.
Actually, looking at the recent news about geopolitical tensions, a strengthening dollar is still on the table. This dip could just be a temporary shakeout before it resumes its upward trend towards 160. These moves are often manipulated to catch people out before the real move begins.
