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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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At Hantec Markets Ltd we provide an execution only service. Any opinions expressed by analyst Richard Perry should not be construed as investment advice or an investment recommendation. This report does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. Forex and CFDs are leveraged products which can result in losses greater than your initial deposit. Therefore you should only speculate with money that you can afford to lose. Please ensure you fully understand the risks involved, seeking independent advice if necessary prior to entering into such transactions.