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Yen Technical Outlook

Tuesday, 29 April 2008 12:46:07 GMT

Written by Jamie Saettele, Currency Analyst

We still maintain that the larger trend is down.  

Although a push to measured resistance near 107.25 remains possible, a bearish bias is warranted against 104.82 since the structure of the advance from 95.72 satisfies requirements for a double zigzag (a complex correction that occurs often in 4th waves).  

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