USDJPY Short (Sell) Trade Setup Idea

USDJPY has been making steady gains but has now come into a strong resistance level and formed a bearish engulfing candlestick pattern on multiple timeframes including the 4-hour. We have here an opportunity to short this pair back down as it retests the resistance level as new support.

Whilst the weekly and monthly timeframes are still bearish, this setup is against the 1-hour, 4-hour and daily timeframes.

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