USD/JPY Classic Technical Report 07.09.2012
Prices are showing a Bullish Engulfing candlestick pattern above rising trend line support set from the early June swing bottom, hinting a move higher may be ahead. Minor trend line support-turned-resistance lines up at 79.74, with a break that exposing the 80.00 figure and 80.15. Near-term support is at 79.52.
4hr Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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