Friday, October 4, 2013

Trade Idea: USD/JPY - Sell at 97.80

Yesterday's breach of previous support at 97.15 adds credence to our view that recent decline from 100.62 top is still in progress and may extend further weakness to 96.92 (100% projection of 100.62-97.86 measuring from 99.68), then towards 96.50-60, however, loss of near term downward momentum should prevent sharp fall



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