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USDJPY moved sideways in a range between 80.30 and 81.98

Discussion in 'Technical Analysis' started by ForexCycle.com, Nov 3, 2010.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

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    USDJPY moved sideways in a range between 80.30 and 81.98. The price action in the trading range is more likely consolidation of downtrend from 85.92, another fall towards 79.75 (1995 low) is expected. Support is at 80.30, a breakdown below this level could signal resumption of downtrend. Key resistance is at 81.98, only break above this level could indicate that the fall from 85.92 is complete.

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