"The meek shall inherit the earth.." Yeah right, good luck with that shit..
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Buy The Story, Sell The Fact: 4 Reasons For USD/JPY To Reverse Gains S/T - BofA Merrill
With the event risk of the Japanese lower House elections out of the way, USD/JPY could be vulnerable to reserve some of its gains in the short term, says Bank of America Merrill Lynch. BofA outlines 4 main reasons behind this call: First: sentiment has reached bearish JPY extremes (DSI is 8% bulls, the lowest since Jul’05) which have traditionally foreshadowed a turn in trend. Second: momentum has failed to confirm this most recent push higher resulting in a bearish divergence. Third: the market is at risk of posting a Doji formation (a candlestick indicating indecision and often seen at market tops). ... (full story)