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USDJPY is in consolidation of downtrend

Discussion in 'Technical Analysis' started by ForexCycle.com, Mar 2, 2011.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    USDJPY is in consolidation of downtrend from 83.96. As long as 82.23 resistance holds, downtrend could be expected to resume, and another fall towards 81.13 previous low support is possible. However, a break above 82.23 key resistance will indicate that a cycle bottom has been formed on 4-hour chart, and the fall from 83.96 has completed, then the following upward movement could bring price back to 93.00 zone.


    Forex Signal

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