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Technicals

Forex Center > News > Technicals

USDJPY's cycle bottom is nearing

08 May, 2008 @ 09:46 pm ET

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USDJPY pulls back to as low as 103.40. Further fall to 103.00 area to reach the next short term cycle bottom on 4-hour chart is expect and the next cycle bottom is nearing. As long as 102.67 support holds, wed expect up trend to resume and rise above 105.70 previous high resistance is still in favor.