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USDJPY: Rebound Ahead?

USDJPY: Rebound Ahead?

2010-07-19 11:01:00
Ilya Spivak, Sr. Currency Strategist
Share:

USDJPY continues to test support at the bottom of a downward-sloping channel that has confined price action since early May, with positive RSI divergence hinting that the next move may favor the upside. I will look for an actionable signal to enter long in line with my fundamental outlook in the days ahead. Initial resistance lines up at 88.96.

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