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TheSignalyst

USDJPY top-down analysis

U.S. Dollar / Japanese Yen (FX:USDJPY)  
TheSignalyst  
FX:USDJPY   U.S. Dollar / Japanese Yen
Trend Analysis Chart Patterns Technical Indicators USDJPY SELL Support and Resistance trendfollowing reversal breakout Forex
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trendanalysis chartpattern indicator usdjpy sell supportandresistance trendfollowing reversal breakout forex
on DAILY: price is sitting around a strong support/resistance zone in red so we will be looking for objective sell setups on lower timeframes.

on H1: price is overall bullish making higher highs and higher lows so we are overall bullish.

However, price is sitting around resistance and we have a bearish divergence on MACD.

Moreover, price is trading inside a wedge pattern in orange, so we are waiting for an objective break below our lower orange trendline to sell this one.

meanwhile, USDJPY would be overall bullish.
This analysis is done using RichTL
www.RichTL.com

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