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USDJPY stays above a upward trend line

Discussion in 'Technical Analysis' started by ForexCycle.com, Mar 13, 2013.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    USDJPY stays above a upward trend line on 4-hour chart, and remains in uptrend from 90.93, the fall from 96.70 is treated as consolidation of the uptrend. As long as the trend line support holds, the uptrend could be expected to resume, and further rise to 97.00 area is still possible. On the downside, a clear break below the trend line support will indicate that the uptrend from 90.93 has completed, then the following downward movement could bring price back to 93.00 zone.


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