USD/JPY TECHNICALLY SHORT BUT CONSOLIDATING

USD/JPY TECHNICALLY SHORT BUT CONSOLIDATING

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As we can see from the chart both 108 and 107.5 prices are being rejected however if we check from out analysis we are seen to be on a short trend with the previous significant low being broken. The break of the current significant low will confirm a continuation of short trend however a break of the significant high will indicate a change of trend to go long. The strengths of the currencies have been the same recently both strong and weak at the same time contributing more to the consolidation. However we face technicals first before fundamentals.

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