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Jamie's Pick: 05/31/11

Jamie's Pick: 05/31/11

2011-05-31 15:30:00
Jamie Saettele, CMT, Sr. Technical Strategist
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The USDJPY has soared and is now testing the trendline that extends off of the April and May highs. Given the larger structure, this may be the beginning of the next bull leg that will eventually eclipse 8552. I am cautiously bullish against 8069. A drop below would suggest that the correction is still unfolding and put 7956 at risk.

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