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USD/JPY (H4): Head and shoulders still possible

Forecast: Retracing to support level

Alternative Scenario: Breaking above the trend line

Comments: We are in downward momentum

Signal: PUT from 118.88, expiring at 21:00GMT, 77% return

UJ_screen 20.02

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Member and editor of Finance Magnates - the biggest FX, and binary options B2B website. A graduate of the University of Economics in Krakow, active publicist since 2012. Technical analysis is always more important to him than the fundamentals – however, he does not reject the importance of macro data. As he assumes that, the simpler the better, he is a strong fan of Price Action trading strategy and Fibonacci retracements.