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USD Is Getting Ready for a Bearish Reversal
Recently, trading the yen has been full of huge movements, but also a lot of uncertainty and anticipation. Anticipation for what? Well, a few Japanese officials commented on their currency’s exchange rate hinting on an intervention. Speculations are heating up and the atmosphere is getting denser. Is technical analysis giving us any hints about the possible direction? USDJPY is currently drawing a double top formation. Local resistance is on the psychological barrier of 145 (orange). The price is currently supported by two factors. The first one is the purple up trendline but it seems that it won’t be too hard to ... (full story)
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