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Sep 02

TECHNICAL ANALYSIS BY NSFX 02.09.2013

By:Nati

High:  Low: 

Currently testing the resistance trend-line drawn from the high on the 17th of May through the high on the 23rd of August at 154.47 on the chart. If this level holds an opportunity to range trade could be an option. However if we see a close above this level a further decline in the JPY to retest the recent highs would be a possibility. Support going forward in the area of the 100 day SMA and the 61.8% Fibonacci drawn from the low on the 7th of August to the high on the 23rd of August.

R3
R2
R1
S1
S2
S3