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June 21, 2012

USD/JPY – ABC Correction Projects to 80.74

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The USD/JPY broke above 79.77 and into new June highs. This also confirms a breakout above a declining channel that held USD/JPY in a decline since March 2012. The ability to rally from that broken resistance as support after about 50% retracement of the breakout swing suggests at least another leg... FF News: Technical

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