Prices took out resistance marked by the tops of a Triangle consolidation chart pattern and a falling channel set from late June, hinting at further gains ahead, and I entered long. The August 17 close at 79.53 is the initial upside objective. A stop-loss will be activated on a daily close below 77.94.
Stay Long USDJPY
2012-10-18 11:01:00
Ilya Spivak,
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
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