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USDJPY moves sideways between 98.27 and 100.48

Discussion in 'Technical Analysis' started by ForexCycle.com, Jul 17, 2013.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

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    USDJPY moves sideways in a range between 98.27 and 100.48. Resistance is now at 100.48, as long as this level holds, the price action in the range could be treated as consolidation of the downtrend from 101.53, and another fall to 95.00 to complete the downward movement would likely be seen after consolidation. On the upside, a break above 100.48 will indicate that the uptrend from 93.79 has resumed, then the following upward movement could bring price to 110.00 area.

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