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USDJPY stays in a downward price channel

Discussion in 'Technical Analysis' started by ForexCycle.com, Feb 13, 2014.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

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    USDJPY stays in a downward price channel on 4-hour chart, and remains in downtrend from 105.44, the rise from 100.75 could be treated as consolidation of the downtrend. As long as the channel resistance holds, the downtrend could be expected to resume, and another fall towards 95.00 is still possible. On the upside, a clear break above the channel resistance will indicate that the downtrend from 105.44 had completed at 100.75 already, then the following upward movement could bring price to 110.00 zone.

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