USDJPY Classic Technical Report 07.25.2012
Prices are testing the upper boundary of a falling channel set from the July 12 swing high, with a break higher initially exposing the 78.52-60. Near-term support lines up at 77.96. A breach below this boundary targets the June 1 low at 77.65.
4hr Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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