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Is JPY staging a big recovery?

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We saw CADJPY finally reverse around 111.00 after an extended run to the upside. This was then followed by a monthly shooting star candle on the monthly chart, signaling a potential reversal. Sellers stepped in and we saw a drop to 104.50.
We've since then seen a pullback into 107.00 resistance, whilst market consolidated in a potential bear flag.
Could we see JPY gain further, CADJPY drop lower and the bear flag play out, breaking 104.50 support on its way to 102.50? One for the radar.

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