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Dragon_Investments

STRONG RESISTANCE

Short
U.S. Dollar / Japanese Yen (FX:USDJPY)  
Dragon_Investments  
FX:USDJPY   U.S. Dollar / Japanese Yen
Trend Analysis Technical Indicators Rising Wedge
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trendanalysis indicator risingwedge
USDJPY is approaching a very important resistance on w1 and d1 timeframes, we can notice a rising wedge which has been formed lately and has been broken. MACD is creaing a divergence (red trendline on the chart) and price could push down strongly in next 2 weeks; if we analyze weekly chart we can see also a bearish engulfing and the price is under a trendline.
Usd could become weaker, today data has showes an increase of Jobless claims.
MY TRADE: SELL USDJPY @109.68
TAKE PROFIT 1 @108.40
STOP LOSS @110.50
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