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USDJPY stays above upward trend line

Discussion in 'Technical Analysis' started by ForexCycle.com, Sep 7, 2014.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    USDJPY stays above the upward trend line on 4-hour chart, and remains in uptrend from 101.50, as long as the trend line support holds, the fall from 105.70 could be treated as consolidation of the uptrend. Further rise could be expected, and next target would be at 107.00 area. On the downside, a clear break below the trend line support will indicate that the upward movement had completed at 105.70 already, then deeper decline to 103.50 area could be seen.


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