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Daily Forex Analysis – September 17, 2008

USDJPY Analysis.
USDJPY rebounds sharply from 103.54 and is forming a short term cycle bottom on 4H chart. Further rise is still possible to 108.00 zone in a couple of days. Initial support is at 103.54, only fall below this level will signal deeper decline towards 102.00-50 area.

20080917_usdjpy_1

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