USD/JPY Technical Analysis - Prices took out support at 96.55, the 50%Fibonacci expansion, to expose the 61.8% level at 95.37. This barrier is reinforced by a rising trend line set from late February, now at 95.17. Alternatively, a move back above 96.55 aims for the 38.2% expansion at 97.72.
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Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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