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USDJPY is testing the key support at 93.25

Discussion in 'Technical Analysis' started by ForexCycle.com, Jul 21, 2009.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    USDJPY is testing the key support at 93.25, a break below this level will indicate that a short term cycle top has been formed at 94.78 level on 4-hour chart, and the rebound from 91.73 has completed, then deeper decline could be seen to re-test 91.73 previous low support. Only rise above 94.78 level will suggest the the medium term downtrend from 98.88 has terminated at 91.73 level, then the following uptrend will take price to 96.00-97.00 area or even higher.


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