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USDJPY in retrace?


Mercury

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I have been tracking this pair for a retrace to offer long term Long trade opportunities and this rally has been quite strong so it has been trying my patience.  Now it looks like we may have a breakout and retest of a Triangle (or ending diagonal) ont he hourly with strong NMD.  If price breaks recent lows (around 10850) then a retrace back to the Daily/Weekly chart Triangle (the breakout of which signaled the rally) or 10500 area is on the cards.  Possible swing trade here or wait until retrace shows itself and then go Long on confirmed upswing.

 



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