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20.07.2011 11:16 AM
USD/JPY Uncertainty July 20, 2011 (Daily Strategy)

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USD/JPY

 

The dollar-Japanese yen pair operates in a very exceptional trading range narrow. because the main trend of the pair is bearish and, according to fundamental long-term prognosis, this trend was unlikely to end soon, is most likely a break down, about 77 Japanese yen per dollar.

Still, not be excluded, a break up with a positive moment, which can push the pair toward the same resistance that narrowly missed during the previous upward sequence, about 81.80. There will also find the line pair 200-day moving average, and therefore also represents the target price in the short term if upside breakout.

 

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