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USD/JPY: Downward Trend

Published 06/04/2012, 10:31 AM
Updated 05/14/2017, 06:45 AM
USD/JPY
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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.


Disclaimer and risk disclosure
: The services provided by Trend Recognition Ltd are intended for informational and educational purposes only.

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