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Jan 20, 2017 12:26 AM

USDJPY - Potential bearish cypher pattern Short

U.S. Dollar/Japanese YenFXCM

Description

I see a potential short entry on USDJPY if price moves back up to 115.953. Looks like it has been a prior support/resistance or congestion area recently and would represent a nice deep pullback before a downtrend continuation.

Some bearish divergence has already begun on lower time-frames. Continuing divergence will add to my confidence.
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