10
06
2008
FX market at a nexus now; 38.2 Fib resistance for USDJPY
Things may be falling into place for a key decision to be made. We got the USDJPY at a 38.2 retracement (106.67) of the weekly high-low which is likely to act as a strong resistance.
In the meantime, EURUSD is supported by the 61.8 retracement (1.5566) of the daily high-low while gold is also likely to have strong support at USD 886.
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