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The wind was taken out of USD/JPY's sails

A bearish engulfing pattern has developed on the USD/JPY weekly chart.

With a Friday's close erasing the previous week's gains, the bearish reversal pattern provides strong visual reinforcement that the bulls hopped out recently.

From a Western technical perspective, the MACD oscillator above zero and printing lower highs reflects the heavy tone in this market, now prone to price-indicator divergences.

US stocks fall sharply as oil weighs

US stocks fell sharply on Friday and posted its largest daily decline in more than two months pressured by oil prices slump, which scored fresh 6-year lows near $35.00 a barrel.
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USD/JPY is getting bumpy

USD/JPY is getting bumpy
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