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Forex4you Technical Analysis 22 July 2011

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Forex4you Technical Analysis 22 July 2011 Empty Forex4you Technical Analysis 22 July 2011

Post  namrata Fri Jul 22, 2011 7:34 am

USD/JPY: technical analysis

The price tested level 78.40/50 and even seemed to have breached it, but the breakout turned out to be false, so trading is currently carried out at level 78.60/70Indicators are unclear, MACD divergence shows that further downward movement is unlikely. Therefore, the best in case would be to anticipate a wide-range consolidation between 79.40 – 78.40/20 levels. The possibility of a decline towards 76.50/40 historical minimum is still there. Growth above 80.10/00 resistance, on the other hand, will be a sign of a change of sentiment towards the bullish.

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Analysis by: Joaquin Monfort
Forex4you analyst

Disclaimer: Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.

namrata

Posts : 62
Join date : 2011-04-15

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