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Usd/Jpy consolidating

Posted on May 4, 2009 at 13:27 in Short-Term Analysis by Valeria Bednarik

Pair continues consolidating inside the 99.10/99.60 range, forming a probable continuation figure on that will get confirmed once the roof is broken. With previous daily maximums around that zone, consider 99.65 as a key level: daily close above it will mean a probable retest of the 101.00 area in the next days. Hourly charts show the pair upside exhaustion state has already been corrected, yet indicators remain flat due to past days consolidation. 99.00 zone, where we also have an ascendant trend line, should hold the downside to keep previous view intact.

 

 

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