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Sep 30

TECHNICAL ANALYSIS BY NSFX 30.09.2013

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The pair today is trading in a 75 pips range and  gapped down from Friday close. There is in formation a supply line that act as resistance in area 158.72. If this level will be broken then test in area 159.59  and then 162. If the Japanese currency should continue to appreciate then the 21SMA is the first test at level157.23 followed by the static support at 156.68. The parabolic SAR is bearish and the average true range (ATR) is at 2013 low.

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