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USD/JPY: bullish 'Engulfing'

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There's a bullish 'Engulfing', so the price is rising. It's likely that the pair is going to test the 34 or 55 Moving Average shortly. A pullback from one of these lines could be a departure point for another decline.

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We've got a local 'Shooting Star', so there's a green light for a local decline. However, if a pullback from the closest support at 110.93 happens next, bulls will probably try to reach the next resistance at 111.34.

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