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USDJPY’s downward movement extended to 81.62

Discussion in 'Technical Analysis' started by ForexCycle.com, Apr 21, 2011.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    USDJPY’s downward movement from 85.51 extended further to as low as 81.62. Resistance is at the upper border of the price channel on 4-hour chart, as long as the channel resistance holds, downtrend could be expected to continue and next target would be at 81.00 area. Only a clear break above the channel resistance could indicate that the downtrend from 85.51 is complete, then the following upward move could bring price back to 83.50 zone.


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