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USD/JPY Price Analysis: Bulls and bears battle it out at key hourly territory
USD/JPY is under pressure in the latter part of the North American session and there are a couple of scenarios identified according to the market structure on the hourly time frames as follows: chart The price is in an ascending trend but the W-formation in a reversion pattern that would be expected to draw in the price towards the neckline and the trend line support as illustrated above. There are two areas of hourly price imbalances (PI) above and below the current market and it is a question of which area will be mitigated first. In a bullish scenario, the price could move lower to collect liquidity from the ... (full story)