Daily Forex Analysis – August 13, 2008

USDJPY Analysis.
USDJPY breaks below 109.13 key support and formed a short term cycle top at 110.40 on 4-hour chart. Initial resistance is now located at 109.13, as long as this resistance holds, we’d expect down trend to continue, and deeper decline towards 107.00 level is still possible in a couple of days.


For long term forex analysis.

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