USD/JPY: Mid-term movement short
Correction to levels of Fibonacci 23.6%
Correction to levels of horizontal resistance 111.415, with no break, which means that the movement remains short.
Only break above 111,415 will give a signal to buy, because it is NECK line of the figure - Head and Shoulders
The indicators also show a greater likelihood of a fall: divergence in DeM
On the other hand we see a strong signal to reverse the medium-term trend, but the amplitude of the double bottom is small, which does not give us more likely to buy.
Therefore, until we dont have break above 111.415 shorts is likely.
Stephen D. Angelova - Head of Stocks Trading
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