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Yen Technical Outlook

Thursday, 09 October 2008 14:46:19 GMT

Written by Jamie Saettele, Senior Currency Strategist

The USDJPY has reached the 38.2% of the most recent 5 wave drop.  Not shown is the break above a short term trendline. 

This development suggests that a larger correction, perhaps to the 61.8% (103.44) is underway.

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