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28 May 2007

USDJPY Bearish Divergent Bar Setup

USDJPY Bearish Divergent Bar Setup


It seems a Bearish setup is formed:

We can see the new Bearish Divergent Bar having an acceptable angle. Additionally it is supported by Acceleration decline. On the other hand previous rally failed to take the Bullish Fractal forming Double Tops.

These double tops in turn formed Bearish Divergence with the Momentum.

These formations are confirmed on daily and weekly chars where double / triple tops are formed.

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