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Yen Technical Outlook

Monday, 14 April 2008 13:00:12 GMT

Written by Jamie Saettele, Currency Analyst

We wrote in the daily chart analysis that wave iv in the USDJPY might be complete at 102.95 because a larger more complex correction is always possible; but more common with 4th waves. 

For example, the USDJPY could be in the early stages of a triangle.  Even so, price would still come lower near term, probably below 98.   In summary, remain bearish.

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