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USDJPY resisted; could be distribution

Caution dictates that a trader should stand aside when he encounters a symmetrical price pattern. The saying goes that price could emerge or breakout on either direction. In the case of USDJPY however, you might consider that the USDJPY is poised for a downward move considering that it has a host of resistance levels on top.

USDJPY zigzags in triangular chart pattern

USDJPY weekly chart shows resistance, pullback

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