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USD/JPY: Long Entry Sought at Channel Support

USD/JPY: Long Entry Sought at Channel Support

2010-07-19 07:05:00
Ilya Spivak, Sr. Currency Strategist
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Strategy: Pending Long

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. We will look for an actionable signal to enter long in line our fundamental outlook in the days ahead. Initial resistance lines up at 88.96.

071910 JPY


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