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USDJPY Bullish Swing Trade Setup!

The USD in our view continues to be in an accumulation phase, hence the choppy price action near its lows. Recent price action in the USD is typical of a bottom building process.

Casting our eyes on the USDJPY, a nice bullish setup has been formed. Impulsive wave structure from the lows and what we believe a completed A-B-C correction. The risk/reward profile is clearly defined and long positions initiated from a move above 105.

1. USDJPY – 4hr Chart: Bullish flag completed, looking for higher prices IF 103.32 holds!