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FX Technical Strategies

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FX Technical Strategies

Fri, Jan 23 2009, 00:09 GMT
by Lea Peters

FXUniversity


USD/JPY : recovering today
During global economic slow-down, investors still look @ yen as a “safe haven” and further appreciation of yen is still expected. Yen is currently recovering from the last week’s lows.@ 87.16. The close back above 91.30 should bring a stronger recovery towards 94.70 first. On the downside, the bear trend will resume targeting the 100% projection of 94.70 to 88.46 form 91.26 @ 84.99 first , with the longer term target of 82.29.
Selling rallies is a preferred strategy.USD/JPY : bearish


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