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Yen Technical Outlook
Friday, 24 July 2009 15:44:51 GMT  |  Jamie Saettele, Senior Currency Strategist
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The drop below 93.50 eliminates the bullish triangle count and leaves us with the bearish count in which the decline from 101.50 is a series of 1st and 2nd waves. The USDJPY is resisted by the 200 day SMA as well as a line extended from the June 15, July 1, and July 2 highs. Bears are favored against 97.00.

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