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Monday, February 16, 2009
USD/JPY 16/02/2009
I have attached the UJ weekly chart. We see the price testing a long term down trend line (Red). There is going to be a strong resistance and breaking the resistance could be unlikely. Although there is no clear signal to short yet, I like to go into a trade when there is enough momentum. For now, I will remain sideline to see how the prices move.
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