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USDJPY stays below the falling trend line

Discussion in 'Technical Analysis' started by ForexCycle.com, Sep 16, 2009.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    USDJPY stays below the falling trend line from 97.78 to 93.29 and remains in downtrend, and the rebound from 90.20 is more likely consolidation of downtrend. As long as the trend line resistance holds, we’d expect downtrend to resumed and deeper decline to 89.00 is still possible after consolidation. However, a clear break above the trend line resistance will indicate that the fall from 97.78 has completed.


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