USD/JPY Technical Analysis– Prices recoiled from resistance below the 100.00 figure to test support at 97.79, the 23.6% Fibonacci retracement. A break below this barrier initially exposes the 38.2% level at 96.46. The 100.00 level remains as the key resistance boundary in focus.
Daily Chart – Created Using FXCM Marketscope 2.0
— Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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