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January 21st, 2009, 3:15 pm | By forexcycle | Published in Daily Technical | Comments on this postNo Comments »

USDJPY breaks below 90.07 support, suggesting that the rebound from 88.47 has completed. Pullback to retest 88.47 previous low support is expected in a couple of days. A break down below this level will indicate that a short term cycle top has been formed at 91.29 level, and the following downtrend will bring price to 84.00 zone. Initial resistance is now at 91.29, only rise above this level will signal further rally towards 92.50 zone.

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forexcycle Forex Cycle. See more Forex Analysis from forex cycle.

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