USD/JPY Classic Technical Report 07.03.2012
Prices are recovering from support at a rising trend line set from early June, with bulls looking to challenge the 23.6% Fibonacci expansion at 79.83. A break above this boundary exposes the 38.2% level at 80.25. Trend line support is now at 79.32.
4hr Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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