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USD/JPY bearish case building - Scotia

FXStreet (Guatemala) - Eric Theoret, CFA, CMT FX Strategist at Scotiabank explained the short-term technicals are bearish-neutral in USD/JPY.

Key Quotes:

"Risks are shifting following the completion of last week’s three-candle ‘morning star’ reversal pattern. The formation is suggestive of upside risk, and we look to further gains with the potential for a break above the 9 day MA at 119.63."

USD/JPY hovering around 119.40

USD/JPY continues to trade around Friday’s closing price in a small trading range. The pair reached daily extremes during the Asian session when it bottomed at 119.11 and then peaked at 119.62.
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