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New Forex Trading Signal: Sell USDJPY @ 112.20

Sell USDJPY @ 112.20. Take profit targets @ 111.50 and 111.30

Stop loss @ a close above 112.70

Conviction:

On the 4 hours chart, the price of USDJPY pair is capped below the moving average as if it is acting as a resistance line. Moreover, the CCI and the MACD are diverging from each other, showing weakness in the pair.

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