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Yen Technical Outlook

Tuesday, 09 September 2008 16:10:43 GMT

Written by Jamie Saettele, Senior Currency Strategist

Bigger picture, the advance from 95.72 is in 3 waves (corrective).  Friday, the USDJPY broke below the trendline that had contained price since the March low at 95.72.

The gap open this week leaves the pair above the line now but 109.17 remains the line in the sand for bears.

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