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Forex technical analysis: USDJPY trades at new day lows, but...

Discussion in 'Technical Analysis' started by ForexLive, Jul 13, 2016.

  1. ForexLive

    ForexLive Forum Member

    Sep 2, 2015
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    Takes out low at 103.93 and back above 104.00 in an instant. The USDJPY just traded at new day lows (below the 103.93 level), but the price moved to 103.89 and a minute or so later was back above 104.00. Don't you hate that. Watch the 104.14-22 level for clues now. If trades above that area (38.2--50% of the move down from 104.55 intraday move), the move was bogus and the traders will continue to trade back and forth....

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