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USDJPY looking to break the tight range
Posted by Alex on February 13, 2010 · Leave a Comment
USDJPY is being traded in a tight, sideways trend and it seems that it is
approaching a point where it is ready to break to a side and form a trend.
The first focus level is at 90.40 and break of this will take USDJPY towards
93.00 level but it seems that it might not be able to do so. And also we
might see some aggressive traders selling for prices above 90.00 level.
On the lower side 89.75 is an important level and USDJPY should break below
this level to continue long term selling trend and once USDJPY breaks below
that level, the next target can be seen around 88.60