Thursday 10 February 2011

USDJPY FX - Update 10 Feb 2011

I am still of the opinion that USDJPY is forming a major base, even though progress has been frustratingly slow.
The rally of the last couple of days is however showing promise.

The chart below shows some interesting developments, with key resistance being tried at 82.80/85. A clear break over here could be key.

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