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USD/JPY Analysis

Stoyan Mihaylov , DELTASTOCK AD

Published 02/09/2010 - 7:50 a.m. EST

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ABOUT THE AUTHOR

Stoyan Mihaylov

Website:
http://www.deltastock.c...

Email:
smihailov@deltastock.bg

Current level - 89.70

The overall downtrend has been renewed with the recent break below 87.12. Trading is situated below the 50- and 200-day SMA, currently projected at 89.50 and 93.54.

Although current bias is neutral, the downtrend for 87.36 is intact and a break below 89.10 will renew the slide towards 88.24. Initial resistance comes at 90.06.

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