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USDJPY’s fall from 83.84 reaches 82.78 only

Discussion in 'Technical Analysis' started by ForexCycle.com, Nov 24, 2010.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    USDJPY’s fall from 83.84 can reach 82.78 only, the subsequent bounce has brought price to a trading range between 82.78 and 83.84. Now the price action in the range is more likely consolidation of uptrend from 80.30. A break above 83.84 resistance could indicate that the uptrend has resumed, then next target would be at 85.00 area. Key support is now at 82.78, only break below this level could indicate that the upward move from 80.30 is complete.


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