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sdotwewen · 07-02-2007, 20:33

USDJPY is bottoming on 4 hours chart and is testing the down trend line resistance, a break and close above the trend line will confirm the cycle bottom. Near term resistance is at the down trend line and followed by 121.34. Near term support is at 119.94, only break below 119.94 may signal the resumption of the down trend.

07-02-2007, 20:33	#194 (permalink)
sdotwewen level 2 Join Date: Apr 2006 Posts: 837 Rep Power: 3	Re: Forex Cycle Analysis USDJPY is bottoming on 4 hours chart and is testing the down trend line resistance, a break and close above the trend line will confirm the cycle bottom. Near term resistance is at the down trend line and followed by 121.34. Near term support is at 119.94, only break below 119.94 may signal the resumption of the down trend.