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USD/JPY Classical Technical Report 05.10
Written by article default Tuesday, 10 May 2011 08:43
USD/JPY:Despite the latest slide, we continue to retain a constructive outlook for the market so long as it holds above the daily Ichimoku cloud on a weekly close basis. Ultimately, only a sustained break back below the cloud would negate constructive outlook. A break and close back above 81.00 would confirm outlook and accelerate gains, with daily studies turning up from oversold levels. In the interim, we remain on the sidelines.