November 10, 2010

USDJPY Down Trend line Violated

  • USD/JPY pair has violated the strong down trend line in daily chart.
  • Price has been resisted by this trend line since the middle of 2010.
  • But for a larger move to happen pair should make a weekly close above 82.92 and sustain above it.
  • If 82.92 acts as resistance we can see another sell off in this pair

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