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USDJPY stays below a downward trend line

Discussion in 'Technical Analysis' started by ForexCycle.com, Aug 21, 2013.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    USDJPY stays below a downward trend line on 4-hour chart, and remains in downtrend from 101.53, the rise from 95.81 could be treated as consolidation of the downtrend. Another fall to 95.00 to complete the downward movement would likely be seen in a couple of days. Resistance is at the trend line, only break above the trend line resistance will indicate that the downtrend from 101.53 is complete.


    Provided by ForexCycle.com

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