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USDJPY traded in a range between 81.62 and 82.23

Discussion in 'Technical Analysis' started by ForexCycle.com, Mar 1, 2011.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

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    USDJPY traded in a range between 81.62 and 82.23. The price action in the trading range is treated as consolidation of downtrend from 83.96. As long as 82.23 resistance holds, another fall towards 81.13 support is possible after consolidation. However, a break above 82.23 will indicate that the fall from 83.96 had completed at 81.62 already, then the following upward move could bring price to 93.00 zone.

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