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Technicals

USD/JPY - Dollar Yen, European Session - 25/07/08

24 Jul, 2008 @ 10:14 pm EST
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106,80. USD JPY broke 107,15 support. The volatility is high. Bollinger bands are parallel and form the trend. 1H, 4H ForexSto (Modified Stochastic) indicate a bearish pressure on USD JPY. The downtrend should continue on 106,30 (50 pips) support. We won't take a position. The risk/reward ratio is too high to take a position..
Resistances
107,00 - 107,15
Supports
106,75 - 106,30

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