Citi – USD/JPY may drop to 113.50 if 120 support breached

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Citi analysts warns from further JPY appreciation. They view the 120 USD/JPY as a critical support line, if breached the USDJPY may fall further to 113.50.

USD/JPY traded between 120.13 to 120.54 in Asia session. It has been in a rough down-trend since Dec. 18 when it reached 123.54.

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