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USDJPY Daily Forecast: November 11

Premium Market Reports by FXTechStrategy

USDJPY Daily Forecast: November 11
Wednesday, November 11th, 2009 @ 1:12 am by Setyo Wibowo

About Setyo Wibowo:

Living in East Java, Indonesia and holding International Relations degree, Setyo Wibowo began his forex trading career by joining Fortune Channel Investment in 2000 as a market analyst, while learning to trade forex independently on his own. Driven by his desire to share his trading experiences and ideas, Setyo joined the FX Instructor team in 2008. Setyo Wibowo is now living in Mojokerto, East Java, Indonesia.

About Me My Articles

USDJPY Forecast:
We had a volatile market yesterday. As you can see in my h4 chart below, we had an intense battle around my new trendline support area (yellow) but it seems like bearish side is in good position now as price able to stay below the trendline (now resistance). The bias is bearish in nearest term but watch out for potential good intermediate support at this phase around 89.40 area. We need a consistent move below that area to confirm bearish scenario targeting 88.80 area. Immediate resistance remains at 90.20/50 area.

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