USDJPY pulls back from channel border
byon May 14th, 2012 at 11:18 PM (6621 Views)
After touching the upper line of the price channel on 4-hour chart, USDJPY pulls back from 80.18. The fall could possibly be resumption of the downtrend from 84.17 (Mar 15 high), further decline towards 78.00 would likely be seen over the next several days. Resistance remains at the upper line of the channel, only a clear break above the channel resistance could signal completion of the downtrend.
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