USD/JPY Technical Analysis: Sellers Try to Expose 97.00

| 31 juli, 2013 | 0 kommentarer

USD/JPY Technical AnalysisPrices broke support at 98.56, the 38.2% Fibonacci retracement, exposing the 50% mark at 96.74. A further push beneath that targets the 61.8% level at 96.74. The 98.56 mark has been recast as near-term resistance, with a turn back above that eyeing a falling trend line set from the May 22 swing high (now at 100.31).

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dailyclassics_usd-jpy_body_Picture_4.png, USD/JPY Technical Analysis: Sellers Try to Expose 97.00

Daily Chart – Created Using FXCM Marketscope 2.0

Written by Ilya Spivak, Currency Strategist for Dailyfx.com

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