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Oct 24

TECHNICAL ANALYSIS BY NSFX 24.10.2013

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The reversal risk appetite made the JpyUsd to fall below its 200SMA and the next test now is the demand line in area 97. In case the pair should fall below that level area 95.7 and 93.5 could work as a valid support. If the Japanese Yen should depreciate then the dynamic resistance at 97.9 will be the first test but only the breakout of the supply line will bring buyers in control again.

R3
R2
R1
S1
S2
S3