USD/JPY
Strategy: Short at 90.14, Targeting 86.28
USDJPY broke below support in the 90.21 – 90.57 congestion region after putting in a Dark Cloud Cover bearish reversal candlestick formation at the top of a falling channel that has been guiding the pair lower since April 2009. The fundamental outlook also looks supportive. We will enter short from here, initially targeting the November swing bottom at 86.28. A stop-loss will be activated on a daily close above 91.89.
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