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Forex Analysis: USD/JPY Classic Technical Report 11.22.2012

By , Currency Strategist
22 November 2012 11:36 GMT

Prices are testing above resistance at 82.51, the 76.4% Fibonacci retracement. A break above that exposes the March 15 high at 84.17. Near-term support is at 81.48, the 61.8% level. A drop below that targets the 80.54-65 area.

Forex_Analysis_USDJPY_Classic_Technical_Report_11.22.2012_body_Picture_1.png, Forex Analysis: USD/JPY Classic Technical Report 11.22.2012

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com

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22 November 2012 11:36 GMT