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Trade USD/JPY: A USD/JPY Trading Strategy: We discuss the technical analysis which underpins our medium-term sell projection for the USDJPY (major) currency pair on the weekly timeframe.
Last week closed as a bearish pin bar reversal and represented a ‘lower high’ compared to the previous rejection of a well-established, long-term trend line. Furthermore, bearish reversal divergence on the stochastic indicator and a price action based reversal on the 4-hourly timeframe gives us additional technical clues that we could see US Dollar weakness.
This is the trade set-up we provided to members in our online trading community over the weekend. Discover the reasoning behind our argument and the technical analysis involved so you don’t miss out on the next trading opportunity!