USDJPY breaks below 79.63 previous low
byon May 9th, 2012 at 11:43 PM (4098 Views)
USDJPY breaks below 79.63 previous low and reaches as low as 79.43, suggesting that a downtrend from 84.17 has resumed. Further decline could be expected in a couple of days, and next target would be at 79.00 area. Key resistance remains at the upper line of the price channel on 4-hour chart, only a clear break above the channel resistance could signal completion of the downtrend.
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