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DAILY FOREX IDEAS

USDJPY Double Top?

Happy Easter to everyone!
Please keep in mind that its a holiday and liquidity is extremely low which may lead to sudden and rapid moves once a bigger player decides to do something.

Now lets talk a bit about the USDJPY – one of my least favorite pairs – from what I see there is a good chance that we do a double top formation which should be followed by a violent move downhill! I would go short here with a tight stop loss or the other option which is a bit safer would be to enter a short trade once the ascending trendline is broken.

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