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It looks like Japan might break this time

Japan first hit the 161 of the 2020 drop in January. It's traded range-bound in this area since then. These 161 levels have historically picked out the approximate high points in most market tops.

https://preview.redd.it/rei9cc5297281.png?width=1918&format=png&auto=webp&s=b43d908751de6a185db8ab73c5c94e4694614f42

Our recent sell off has come right off the 161. In tops we often see small runs of the resistance levels and then perfect retests of these. Learn more about this here.

https://preview.redd.it/lkdhdp8h97281.png?width=1911&format=png&auto=webp&s=4f0a4beed68984a20ea450475113f0ab51e42306

Dropping in, we can also see this move has come off the 76 retracement.

https://preview.redd.it/09ze04as97281.png?width=1920&format=png&auto=webp&s=362a46adb82c1654859ba9756b0c3f6abd7b53f2

So while this has come with random news, this drop has come off a very foreseeable price level.

During the fall of Friday we broke through the 161 which would typically serve as support here.

https://preview.redd.it/hn7zbmyz97281.png?width=1909&format=png&auto=webp&s=01e1a0c0caa7ddfc110a9f02759f8e54137681a9

Critical break here comes under the 127.

https://preview.redd.it/5hrd8fk5a7281.png?width=1903&format=png&auto=webp&s=9e89e712be19e07971eae5317dcb9ac0bb81005e



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