Wednesday, May 28, 2014

Trade Idea Wrap-up: USD/JPY - Buy at 101.30

Dollar's retreat after yesterday's brief rise to 102.14 suggests minor top is formed and consolidation would be seen with mild downside bias for correction to 101.30-35 (61.8% Fibonacci retracement of 100.82-102.14), however, downside should be limited to 101.00-05 and bring another rebound later. Above 102.00 would bring another test of



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