USD/JPY Rebounds From 101.32
Franco Shao | Apr 14, 2014 11:29PM ET
Being contained by 101.20 support, USD/JPY rebounded from 101.32, indicating that consolidation of the downtrend from 104.12 is underway. Range trading between 101.32 and 102.40 would likely be seen in a couple of days. Resistance is at 102.40, as long as this level holds, the downtrend could be expected to resume, and next target would be at 100.50 area. Only break above 102.40 resistance could trigger another rise to 104.50 area.
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