USD/JPY: 'High Wave' led to consolidation

USD/JPY: 'High Wave' led to consolidation

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The market has been consolidating since a bearish 'High Wave' was formed. It's likely that after a short break the pair is going to achieve the next support level at 111.90.

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There's a bullish 'Hammer', which has been confirmed. So, the price is likely going to test the closest resistance at 112.63, which could be a departure point for a decline in the direction of another support at 111.90.

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