USD/JPY short term recovery
As we can see, price has strongly broken the weekly trendline but attempts to break below the monthly trendline last week failed, as there was a rapid recovery which pushed price back inside the trendline/support area.
Because sellers who entered positions early on are likely to close in on their profits, we should expect selling pressures to slow down in the coming days with a potential pullback to the resistance zone before we can expect further selling
Because sellers who entered positions early on are likely to close in on their profits, we should expect selling pressures to slow down in the coming days with a potential pullback to the resistance zone before we can expect further selling
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