USD/JPY: bearish 'High Wave'

USD/JPY: bearish 'High Wave'

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There's a bearish 'High Wave', which hasn't been confirmed yet. So, we should keep an eye on the nearest resistance at 110.83 as a possible departure point for another decline.

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We've got a bearish 'Engulfing' on the 55 Moving Average. It's likely that the pair is going to test the closest resistance at 110.82. If a pullback from this level happens next, there'll be time for a decline.

jpy

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