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Forex4you Technical Analysis 4 August 2011

Discussion in 'Forex Daily News & Outlook' started by forex4you, Aug 5, 2011.

  1. forex4you

    forex4you New Member

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    USD/JPY: technical analysis
    Intervention, made by the Japanese government triggered the bullish sentiment in the market. The price has already ascended from 77.00 to 79.90 level and it's likely to begin testing 80.00 resistance level anytime soon. Indicators are unanimous, suggesting further growth and a possible 80.00 level breakout. If the price manages to hold above this level, we'll be expecting another growth to level 81.30 in the near future. On the other hand, intervention may influence the pair either way, so its worth being wary regarding the present growth.

    Forex
    Analysis by: Joaquin Monfort
    Forex4you analyst

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