Short Term Analysis – Apr 2, 2008

20080402_usdjpy_2.gifUSDJPY breaks above 101.03 previous high resistance and rebounds sharply to 102.15 level. Further rally to test 103.59 resistance is expected in a couple of days. Near term support is at the up trend line from 95.77 to 98.81, as long as the up trend line support holds, we’d expect up trend to continue.

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