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USDJPY: Formed Bullish Engulfing on H4 | March 20, 2017
Usdjpy has formed bullish engulfing on h4 chart. After few small bearish candle, this pair pulls back strongly with a big bullish candle. It seems that usdjpy is now looking for some bullish movement. So we can look for buy above this bullish candle.
112.45 is near term support for usdjpy. So if it stays above this level, then we should be in bullish mode. On stochastic indicator, it shows that price is trying to rebuild its bullish momentum from the oversold area. It can be another sign for bullish movement.
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