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USDJPY 12 Mar 2024

USDJPY 12 Mar 2024 on the Daily timeframe, the pair experienced a bearish trend that brought it down to break the R1. However, the pair was able to reverse the trend back to bullish before touching the kumo cloud on the ichimoku indicator. If we refer to the stochastic indicator which appears that there has been saturation due to oversold and also bullish signal on the candlestick chart, it is possible that the bullishness will continue. Therefore, go-long could be an option for traders. However, if the pair fails to rise and goes bearish again, then go-short is an option. Keep an eye on volatile market movements and learn many indicators before making trading decisions.

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