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Thread: Discuss the USD/JPY with a DailyFX Analyst

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#1581 (permalink)

07-23-2008, 07:02 PM

terton

Guest

Posts: n/a

UP Thursday

Following the strength of the greenback, USDJPY must now test 108.50-60, just as the euro must test its 61.8% retracement at 1.5584 (see other thread for my euro chart).

On the moving train principle, I would not take a short at 108.50-60 unless you see a 2-hour chart reversal confirmed. See how the euro performs at support. I suspect a dollar bull market is happening.

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