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Has the USDJPY Just Become a Short Play?

Discussion in 'Technical Analysis' started by FXStreet_Team, Mar 30, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The past few weeks have been relatively positive for the USDJPY as the currency managed to claw its way to the top of its consolidating channel. However, price action has just broken through the trend line thereby setting up the pair for a significant move back towards the bottom of the channel in the coming days. Taking a look at the technical indicators shows a large consolidation channel and pattern that has been in play since the middle of February. In addition, it is clear that price

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