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2011 March

March 1st, 2011 @ 7:32 am by Setyo Wibowo

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USDJPY Forecast
The USDJPY was indecisive yesterday but bounced higher earlier today in Asian session hit 82.22. The bias is bullish in nearest term testing 82.50 resistance area. A clear break above that area would trigger further upside pullback testing 83.05 and could be a threat to the “head and shoulders” bearish scenario. On the downside, we need a clear break below 81.61 to continue the bearish pressure testing 81.30 – 80.90.

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March 1st, 2011 @ 7:28 am by Setyo Wibowo

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USDCHF Forecast
The USDCHF was indecisive yesterday but bounced higher earlier today in Asian session testing 0.9330 resistance area. Overall we are still in a strong bearish outlook but a clear break above 0.9330 would trigger further upside correction testing 0.9435, which is also the 38.% Fibo retracement of 0.9773 – 0.9233.  On the downside, we need a clear break below 0.9233 to continue the major bearish outlook targeting 0.9100 and 0.9000 psychological level this week.

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