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For now the markets are stalled, its like the calm before the storm.
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Thursday, February 12, 2009
USD/JPY 12/02/2009
UJ has been creeping towards the lower channel as mentioned in my earlier post. It is has broken the purple channel and currently sitting on support. We may see it move towards the blue trend line below. There are 3 high impact news tonight: 1) Core Retail sales, 2) Retail sales and 3) Unemployment claims. We may see the market very volatile. If the blue trend line is broken, we may see more downside.
For now the markets are stalled, its like the calm before the storm.
For now the markets are stalled, its like the calm before the storm.
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