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MIG Bank

MIG Bank

MIG BANK, formerly known as MIG INVESTMENTS, was established in Neuchatel, Switzerland as an online Forex broker and in 2009 became the world's 1st Forex…

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USD/JPY: Grinding Higher

USD/JPY continues to probe higher, moving above the strong resistance at 101.45. Hourly supports can be found at 101.85 (15/05/2013 low) and 101.26.

The break of the resistance at 99.95 has validated an ascending triangle with an implied target at 104.10.

The overextended nature of this market calls for some caution. However, as long as the support at 95.77 (05/04/2013 low) holds, further long-term strength towards 110.66 (15/08/2008 high) is expected.

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