USDJPY: Is a Pullback Finally at Hand?
Strategy: Pending Long
USDJPY has completed a bearish Harami candlestick pattern, hinting a pullback may be finally at hand. Negative RSI divergence reinforces the case for a downside scenario but confirmation is required on the close of the current candle to make the setup actionable. We will look for any forthcoming pullback as a buying opportunity. Initial support lines up at 81.86.
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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