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USDJPY Breakout Could Test 128.00 in Coming Weeks

Friday, 15 June 2007 15:12:53 GMT

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Written by Jamie Saettele, Technical Currency Strategist
The weekly chart shows how significant a breakout this is.  The next level of chart resistance is not until the December 2002 high at 125.73.  Three long term Fibonacci measurements are centered around 128.00.  A confluence such as this tends to act as a magnet. 

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