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USDJPY drops sharply to as low as 95.69

Discussion in 'Technical Analysis' started by ForexCycle.com, Aug 11, 2009.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
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    USDJPY drops sharply to as low as 95.69, suggesting that a short term cycle top has been formed at 97.78 level on 4-hour chart. Deeper decline to 95.00 zone is expected in a couple of days. Initial resistance is at 96.10 followed by 96.35, as long as these levels hold, the short term downtrend from 97.78 will continue.


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