USDJPY: Preparing to Enter Long Position
Strategy: Pending Long
USDJPY put in a bullish There Inside Up candlestick pattern above support at 80.27, hinting the pullback beginning in mid-March may have run its course. We will look for confirmation on a break above 81.86, a former support level reinforced by the top of a near-term falling channel, to enter long.
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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