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Wednesday, August 17, 2011

USD/JPY Intraday Technical analysis 2011-08-17

The spot rate is currently testing the lower limit of its medium-term bullish channel in 76.70 suggesting a rebound. However a break of these levels would initiate a new trend.
According to previous events, the market indicates a bullish opportunity on the levels of 76.70 with a 1st objective of 77.20, then 77.50. A break in 76.50 would invalidate this scenario.

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