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USDJPY broke above 93.75

Discussion in 'Technical Analysis' started by ForexCycle.com, Apr 1, 2010.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

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    USDJPY broke above 93.75 (Jan 7 high), suggesting that the longer term uptrend from 84.82 (Nov 27, 2009 low) has resumed. Further rally is still in favor and next target would be at 95.00-96.00 area. Initial support is now at 93.45 followed by 93.25, and key support is at 92.12, as long as this level holds, uptrend from 89.76 could be expected to continue.

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