USDJPY – Breaks the Ending Wedge to the downside

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Monthly: The long-term outlook is for higher levels with the pair posting a potential bullish reverse Head and Shoulders formation. A break of 126.70 (neckline) is needed to confirm the formation. There is scope for a deeper correction, in an AB=CD formation, toward 92.00. This timeframe offers a mixed picture. Weekly:  Holds within a corrective channel formation. Trend line resistance is l...

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