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Aug 21

TECHNICAL ANALYSIS BY NSFX 21.08.2013

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The supply line from the 22nd of May top and the demand line from the 25th of May bottom are the sidewalks of the trading space of the pair.  There is a volatility compression that only a breakout on either direction could bring the ATR on high levels. Institutional investors will build long positions only above level 100.  The UsdJpy is much more central bank event driven than others pairs thus a sudden long candle during the Asian session should not be considered a surprise.

R3
R2
R1
S1
S2
S3