Folks, I believe we are seeing a change in trend on the hourly chart. The USDJPY is finding support above the 20MVA having just failed to break through the top of the support of the most recent low. This often indicated a powerful rally is coming, and in fact we see support on the other timeframes as well at key moving averages. I've closed all my shorts, and I'm going long.
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I'm changing my mind on this. I believe that the longer term trend is down. The hourly chart is distorted by the US holiday. So, I believe the we're still headed further down.