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USDJPY: Important Decision Ahead (Indecision)



USDJPY is trading in a strong bearish trend .

The price is falling in a major falling channel for a quite long period of time.


However, since November the price is in consolidation.

The market is stuck within a 103.7 - 104.7 horizontal decision range.

While the price is inside, the future direction of the pair is unknown.

I am waiting for a breakout.


In case of a bearish violation, sellers will most likely push the market lower.

Goals will be:

103.3 current structure low

103.0


In case of a bullish violation, with a high probability, the price will go higher.

Next goal for buyers will be:

105.4 current local structure high.


Because the trend is bearish , I remain bearish biased.

But who knows...

We know how stubborn yen can be.


Have a great weekend!

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