Long Term Forex Analysis

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USDJPY is in up trend
Wed, Aug 13 2008, 02:06 GMT
by Franco Shao
ForexCycle.com
USDJPY is in up trend. The fall from 110.40 is treated as consolidation to up trend. Key support is located at 107.28, as long as this support holds, we'd expect up trend to resume, and further rise towards 112.00 to reach next cycle top on daily chart is still possible after consolidation. However, a break below 107.28 key support will indicated that a cycle top has been formed at 110.40 level on daily chart, and the rise from 103.76 has completed, and then deeper decline towards 103.76 previous low could be expected to follow.
For long term analysis, USDJPY formed a long term cycle bottom at 95.77 (Mar 17 low) on monthly chart and is now in long term up trend. Further rise towards 120.00 is in favor.

Published on
Wed, Aug 13 2008, 02:08 GMT
Archive
- EURUSD rebounded from 1.4626 level
Published On Sat, Nov 7 2009, 05:12 GMT
- EURUSD pulled back from 1.5062
Published On Sat, Oct 31 2009, 15:13 GMT
- GBPUSD broke above the falling trend line
Published On Sun, Oct 25 2009, 01:09 GMT
- EURUSD broke above 1.4843
Published On Sat, Oct 17 2009, 04:10 GMT
- USDJPY's downtrend from 97.78 extended further to as low as 88.01
Published On Sat, Oct 10 2009, 04:45 GMT
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