Strategy: Pending Long
USDJPY put in a bullish Morning Star candlestick pattern at the bottom of a falling channel established from April. The boundary doubles as the lower outline of a Falling Wedge bullish reversal pattern. Positive RSI divergence reinforces the case for an upward scenario. We will look for confirmation on a daily close above the wedge top (now at 86.30) to position for buying opportunities in line with our fundamental outlook, planning to initially targeting the channel top (now at 88.77).
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