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USDJPY to Turn Bearish Below 108.65
The USDJPY reached a key inflection point earlier today. We’ve been talking about this rising wedge that extends from the year-to-date low since October 31. I also highlighted the possible bullish and bearish scenarios that could play out here on Tuesday. If you read that post, you know that I favored the bearish scenario. Here’s what I wrote on Tuesday: As you can see, the USDJPY has a decision to make. That said, I do favor the bearish scenario via the rising wedge simply because upward breaks of ascending levels rarely last, in my experience. Think about if a bearish flag pattern broke to the upside. Would you ... (full story)