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Trade Idea Update: USD/JPY - Buy at 108.25

Discussion in 'Forex Trading Signals & Forecasts' started by Lily, May 16, 2016.

  1. Lily

    Lily Forum Member

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    Dollar's retreat after Friday's brief rise to 109.55 suggests consolidation below this level would be seen and downside risk remains for another corrective fall to 108.35-40 (38.2% Fibonacci retracement of 106.44-109.55), however, reckon support at 108.23 would limit downside and bring another rise later, above 109.55-60 (said resistance and 1.618[​IMG]

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