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USD/JPY Still The Stand Out Medium-Term Chart: Levels & Targets - Citi
The long term and medium term charts of USD/JPY still suggest that a multi month rally is likely to be seen that should take USD/JPY to 110-111 this year and possibly higher over an extended horizon, notes CitiFX Technicals. Specifically, Citi notes that the weekly chart shows the lows from 1999 and 2005 being retested as well as the channel base just above 100. "The 55 week moving average also comes in at 100.53. Medium term resistance levels / target area come in at 110-111 which should be tested this year," Citi projects. Even the daily chart, according to Citi, is beginning to show signs of a rally ahead. ... (full story)
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- Apr 25, 2014 1:09am Apr 25, 2014 1:09am
- artocarpus
- | Joined Nov 2013 | Status: Member | 67 Comments
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- Apr 25, 2014 1:38am Apr 25, 2014 1:38am
- Pip Anon
- Joined Jan 2013 | Status: Trading defies logic | 1796 Comments
When the facts change I change my mind, what do you do sir