September 7, 2010 3:51 PM
USD/JPY New Low Continues Downtrend
By James Chen
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USD/JPY (a 4-hour chart of which is shown) as of Tuesday (9/07/2010) has established yet a new 15-year low, although only slightly below the last long-term low around 83.58 established just two weeks ago. After reaching a low of 83.50 support on Tuesday morning, price has consolidated on low volatility. This occurs within the context of a continued overall downtrend. For more USD/JPY forex technical analysis, please click here.
James Chen, CTA, CMT
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