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Meeting resistance

Meeting resistance | 06 November 2013

06 November 2013, USD/JPY

The USD/JPY has resumed its up-trend and moved higher, climbing back up to just shy of the 98.80 resistance highs. It may have difficulty breaking above but overall the probabilities lie with a successful breach above 98.80 and a continuation up to the next target, situated at 99.38. The up-count for the move based on the most recent count is above that at 99.85.Confirmation from a break above 98.90 would be a useful precaution given the strong clustering of resistance there.
Meeting resistance
Mark Satcher
Analyst of «FreshForex» company
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