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USD/JPY - 97.05 Daily Market Outlook - Nov 13

13 Nov, 2008 @ 08:48 pm ET | written by AceTrader


Yesterday's cross-inspired rally signals erratic decline from 100.56 has formed a temporary low earlier this week at 94.48 and consolidation with upside bias remains for at least a strong retracement of aforesaid fall to 98.70/80 but only a break above resistance at 99.48 would signal the upmove from last month's at 90.87 has resumed.  

  

On the downside, below 96.60/70 would risk pullback to 96.00 but support at 95.13 (overnight New York low) should remain intact.

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