Short Term Analysis
USDJPY stays in a falling price channel
Mon, Nov 23 2009, 03:17 GMT
by Franco Shao
ForexCycle.com | View company's profile
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USDJPY stays in a falling price channel on 4-hour chart and remains in downward trend. Deeper decline towards 88.01 previous low is still possible later today, however, rebound is expected before breaking below this level. Initial resistance is at 89.15 followed by 89.55, key resistance is at the upper border of the price channel, a clear break above the channel resistance will suggest that the downtrend from 92.32 has completed, then the following uptrend could bring price back to 91.00 or even 92.00.

Published on
Mon, Nov 23 2009, 03:28 GMT
Archive
- EURUSD broke below lower border of price channel
Published On Mon, Mar 22 2010, 01:55 GMT
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Published On Fri, Mar 19 2010, 03:26 GMT
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Published On Thu, Mar 18 2010, 03:04 GMT
- AUDUSD stays in a rising price channel
Published On Wed, Mar 17 2010, 02:54 GMT
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Published On Tue, Mar 16 2010, 03:34 GMT
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