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USDJPY rebounds from 94.49 level

Discussion in 'Technical Analysis' started by ForexCycle.com, Aug 3, 2009.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    Being supported by the rising trend line from 91.73 to 93.09, USDJPY rebounds from 94.49 level, suggesting that the pair remains in short term uptrend. Further rise to 96.00-96.50 is still possible. Near term support is at 94.49, and key support is at 94.01, below this level will indicate that the uptrend from 91.73 has completed at 95.88 level already, then the fallowing downtrend will take price back to re-test 91.73 previous low support.


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