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USDJPY rebounds from 91.77 level

Discussion in 'Technical Analysis' started by ForexCycle.com, Jul 12, 2009.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    After touching 91.80 previous low, USDJPY rebounds from 91.77 level. Further rise is possible to re-test 93.59 resistance, a break above this level will suggest that a short term cycle bottom has been formed at 91.77 level on 4-hour chart. However, the price action from 91.80 is more likely consolidation of downtrend from 98.88 and one more fall towards 90.00 is still possible after consolidation.


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