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USD/JPY Classical 07.08

USD/JPY Classical 07.08

2010-07-08 05:56:00
Joel Kruger, Technical Strategist
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USD/JPY: Despite the latest choppy directionless trade, our overall outlook remains highly constructive so long as the price remains above 87.00 on a close basis. Look for an eventual push back towards and through 95.00, above which should accelerate gains to next critical topside barriers by 100.00. For now, buying into the latest dip below 88.00 is the favored strategy, with a break back above 88.20 to confirm bullish outlook.

 

Written by Joel Kruger, Technical Currency Strategist for DailyFX.com 
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