USD/JPY Classic Technical Report 07.06.2012
Prices broke above resistance at 79.83, the 23.6% Fibonacci expansion. Buyers now aim to challenge the 38.2% level at 80.25. The 79.83 level has been recast as near-term support, with a break back below that exposing trend line support levels at 79.64 and 79.45.
4hr Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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