Saturday, August 21, 2010

USDJPY may be forming a cycle bottom at 84.72

USDJPY may be forming a cycle bottom at 84.72 level on daily chart. Key resistance is at the falling trend line, a clear break above the trend line resistance could confirm the cycle bottom, then the following upward movement could bring price to 87.00-88.00 area. Support is at 84.72, only …

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