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August 14, 2012

USD/JPY Continues Channeling Up; Cracking 2012 Trendline

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In the previous update, I noted that USD/JPY had bearish bias in a directionless market. However, price action did not re-establish bearish momentum. The 4H RSI showed the RSI attempting to push back below 40 as price tried to push back below a near-term support pivot at about 78.15. Both failed,... FF News: Technical

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