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USD/JPY: Is That A Tweezer Top On The Weekly Chart?

Published 16/12/2014, 08:09
USD/JPY
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Last weeks close saw a Tweezer Top formation at a Mjaor LT S&R level / fib level around 120.033. This bearish outcome has pushed Price back below a a LT level of S&R. A Negative signal candle. Therefore - when looking the Daily chart - LT trend is up so you would want to be looking to trade in the direction of LT trend BUT that is not the case with USDJPY as Price has not made any new highs - OsMa is below the 0 level. Therefore there is no Bullish sentiment at present. Price intraday is testing a weekly support level. See charts for verifcation of this.

Weekly chart



USDJPY Weekly chart 14th - 20th December 2014USDJPY Daily chart 16th December 2014

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