USD/JPY:
78.18
Very Short-Term Trend: Downtrend
Outlook: No matter what I expect to see on daily and weekly charts, the hourly trend is on the downside and, thus, no longs can be justified here. At the same time, I continue to believe that the downside is limited, so the best strategy is probably to stay out. There are no key levels of importance right now. Maybe a move above 78.90 will signal that the bulls are re-taking control.
Strategy: Stand aside.
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