[USDJPY] UPDATES SETUP

The trend is still bullish on intraday chart, and today’s session will be very important for our setup, said that, we do not see structural changes, the pair could retest our setup area around 112.40, and from here the market will decide whether to follow our bearish setup, or uptrend resume. As you can see from the chart, our analysis is very simple, a potential channel breakout could trigger a pullback at 111.60 area, and after a potential rebound, the pair should continue to fail,we'll see.

OUR BEARISH SETUP

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