USD/JPY Technical Analysis– Prices broke above resistance at 101.42, the 76.4% Fibonacci expansion, clearing the way for a move to challenge the 100% level at 103.16. The 101.42 mark has been recast as near-term support, with a reversal back beneath that exposing the 61.8% Fib at 100.34.
Daily Chart – Created Using FXCM Marketscope 2.0
— Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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