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Razvan
Aug 27, 2012 9:49 AM

USDJPY - Flag formation Short

U.S. Dollar/Japanese YenFXCM

Description

The last down movement, from inside the triangle, seems to have a flag correction. In this case we might expect a further appreciation of the Japanese Yen, if the lower line will be broken. Still we must be attentive at an upside break through the 38.2 and 78.72 resistance zone, which may send the dollar back to the superior line of the triangle.
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