Daily Forex Analysis ? April 21, 2011

USDJPY Analysis. USDJPY stays in a falling price channel on 4-hour chart, and remains in downtrend from 85.51. Key resistance is located at 83.09, as long as this level holds, downtrend could be expected to continue, and next target would be at 81.50 area. However, a break above 83.09 will indicate that a cycle bottom [...]

Source: http://blog.forexcycle.com/6240/daily-forex-analysis-april-21-2011/

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