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USDJPY breaks above 94.05 resistance

Discussion in 'Technical Analysis' started by ForexCycle.com, Feb 11, 2013.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

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    After consolidation, USDJPY breaks above 94.05 previous high resistance and continues its upward movement form 79.07 (Nov 9, 2012 low). Further rise could be expected in a couple of days, and next target would be at 96.00 area. Support is at 93.30, only break below this level could indicate that lengthier consolidation of the uptrend is underway, then deeper decline to 92.00 area could be seen.

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