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Sunday, October 11, 2009

Much Needed

I was able to pick up another 30 pips during the Asian session Thursday night. That washed most of the losses for the week, allowing the 100 pip trade to go to the bank.

Will the AUDJPY be able to continue it's upward blast? Will it retrace before resuming? Will it reverse?

Key levels I'm paying attention to are:

Current Short Term Range: 80.50-81.50

Major Support: 76.85-77.00

Possible Target area: 83.50

How clean price action is will dictate the action for the week.

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