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May 1, 2012

USD/JPY Rallies Within Declining Channel

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The USD/JPY held above a key support zone between 79.50 and 79.70. The daily chart shows the significance of this zone going back to May 2011. We are also trading in a declining channel, so the bullish outlook from this zone should first be limited in consideration of the prevailing downtrend. But... FF News: Technical

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