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USDJPY continues its sideways movement

Discussion in 'Technical Analysis' started by ForexCycle.com, Jun 26, 2013.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

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    USDJPY continues its sideways movement in a range between 96.86 and 98.70. Key support is located at 96.86, as long as this level holds, the price action in the range could be treated as consolidation of the uptrend from 93.79, one more rise to 100.00 area is still possible after consolidation. On the downside, a breakdown below 96.86 support will indicate that the upward movement from 93.79 had completed at 98.70 already, then the following downward movement could bring price back to 95.00 zone.

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