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USDJPY Weekly Analysis - June 7, 2014

Long Term Forex Analysis | by ForexCycle.com | Saturday, 07 June 2014 13:09 UTC
USDJPY failed to break below 100.75 support and rebounded from 100.82, indicating that lengthier sideways movement in a range between 100.75 and 105.44 is underway. As long as 100.75 support holds, the price action from 105.44 could be treated as consolidation of the uptrend from 93.79 (Jun 13, 2013 low), one more rise to 110.00 area is still possible after consolidation. Only a breakdown below 100.75 support could signal completion of the uptrend.

usdjpy chart

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