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USDJPY is facing 81.26 resistance

Discussion in 'Technical Analysis' started by ForexCycle.com, Jul 5, 2011.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    USDJPY is facing 81.26 resistance. Further rise would likely be seen after a minor consolidation, and next target would be at 81.60-81.80 area. Key support is at the uptrend line on 4-hour chart, as long as the trend line support holds, uptrend from 79.69 will continue. Only a clear break below the trend line could indicate that the rise from 79.69 is complete, then another fall towards 78.00 could be seen.


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