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Oct 11

TECHNICAL ANALYSIS BY NSFX 11.10.2013

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High:  Low: 

The Japanese Yen is losing ground for the fourth consecutive trading session against the USD. Yesterday the cross rate closed just below both the 21SMA and the 55EMAand today is just trading above that dynamic resistance. Next test would be the supply line in area 99.72 and if a breakout should occur then price could reach 101.62. The intermediate target is in area 103.72. If the pair should retrace the 200SMA would be a valid support and below that level the demand line in area 95.5

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