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USDJPY stays in down trend

Discussion in 'Major Currency Pairs' started by ForexCycle.com, Sep 3, 2008.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

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    USDJPY is in down trend. One more fall below 107.62 to reach the next short term cycle bottom on 4-hour chart is still possible in a couple of days. Key resistance is located at 109.18, only rise above this level will indicate that a cycle bottom has been formed at 107.62, and then further rebound could be seen to test 110.27 resistance.

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