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USD/JPY: 'Inverted Hammer' on 34 Moving Average

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There's a 'Shooting Star', which has been confirmed enough. In this case, the price is likely going to test the 34 Moving Average. If a pullback from this line happens little later on, there'll be an opportunity to have a new local high.

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We've got an 'Inverted Hammer' on the 34 Moving Average, so the market is likely going to achieve the nearest resistance area. A pullback from it could be a departure point for a decline towards the 89 Moving Average.

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