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USD/JPY: Recovered Above Support At 98.76/70

Published 09/16/2013, 06:28 AM
Updated 07/09/2023, 06:31 AM
<span class=USD/JPY" title="USD/JPY" width="983" height="339" />
USD/JPY has sold off over night to 98.43 but we have recovered above support at 98.76/70. The outlook is quite negative with resistance at 99.15 but above here we could stretch to 99.45/50 for a selling opportunity with stops above 99.75.

Below 98.76/70 however keeps the market under pressure for a retest of 98.43 & if we continue lower we should test support at 98.25/20. Any longs here need stops below 4 month trend line support at 98.05.

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