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27/02/2014: I have just SOLD USD/JPY @ 102.108


I believe that the outlook has changed over the past day and that that this rally is a chance to sell. I expect this rally to fall over and come back to retest the low at 101.65

The jump is back to the resistance of the formed uptrend (currently around 102.10), also with the resistance in he band 102.07/102.14. The moving averages have just all turned lower i bearish sequence on the hourly chart and the RSI has unwound an oversold position.

I have placed my stop at 102.46 (35 pips) which is above a consistent band of resistance over the past few days at 102.40.


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