USDJPY Classic Technical Report 08.07.2012
Prices pulled back from falling channel resistance set from the June 24 high to take support at 78.43, putting USDJPY back in the middle of the range prevailing over the past three weeks. Near-term support remains at 77.96, with a break below that exposing 77.65. Range resistance remains in the 78.43-65 area.
8hr Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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