USDJPY: Bullish Cues Begin to Emerge
Strategy: Pending Long
USDJPY has put in an Inverted Hammer at rising trend line support from October’s swing low, hinting an upswing is ahead. However, without a firmly bullish candle reflecting significant momentum immediately following the Hammer, we don’t have a strong enough signal here to enter long and will continue to monitor positioning for a more attractive setup. Near-term falling trend line resistance stands at 82.70, with a break below that exposing 84.81.
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