USD/JPY – Following an engulfing candle; preparing for reversal

78.6% retracement: The USD/JPY has been falling since the last update where a rally was rejected from clearing a key declining trendline that went back to a resistance pivot in April 2011. The move has been small, falling from 79.21 to about 77.50. As the daily chart shows, the market was not able... FF News: Technical

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