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Yen Technical Outlook Yen Technical Outlook
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Old 09-05-2008, 03:21 PM
DailyFx's Avatar
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Default Yen Technical Outlook
Repeating what we’ve mentioned in recent days; “the USDJPY has made a series of lower highs and lower lows since the August top at 110.65. Favor the downside as long as price is below 110.28 (price ideally remains below 109.72).”



Also, 3 month volatility is at a level that typically precedes rapid declines. The USDJPY has broken below the trendline that had contained price since the March low at 95.72. This is a strong bearish signal. Risk for bears is now at 109.17.
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