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Forex Trading: USDJPY breaks out to the upside today

Posted by Greg Michalowski on Wed, 04/30/2008 - 7:43am in

The USDJPY broke to the downside yesterday and could not hold.  Today it remained between the 100 and 200 hour moving average for most of the day, but just broke strongly higher at 104.21.  Expect the 104.21 level to hold support early in the day with buyers on dips. 

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