USD/JPY Technical Analysis– Prices cleared a falling trend line set from late May to challenge resistance at 98.70, the 38.2% Fibonacci expansion. A daily close above this barrier exposes the 50% level at 100.22. Near-term support is at 96.82, the 23.6% Fib.
Daily Chart – Created Using FXCM Marketscope 2.0
— Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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