USDJPY Classic Technical Report 07.20.2012
Prices took out 61.8% Fibonacci retracement support at 78.78 and now aim to challenge the 76.4% level at 78.35, with a break below that exposing the 78.00 figure. The 78.78 level has been recast as near-term resistance.
8hr Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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