USDJPY Classic Technical Report 08.01.2012
Prices are consolidating above support at 77.96. A break below this barrier initially exposes 77.65. Near-term resistance lines up at 78.41, the 23.6% Fibonacci retracement, with a break above that targeting the 78.65-70 area.
8hr Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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