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USDJPY Classic Technical Report 09.20.2012

USDJPY Classic Technical Report 09.20.2012

Ilya Spivak, Head Strategist, APAC

Prices turned lower from Andrew’s Pitchfork resistance at 79.03. Initial support lines up at 77.96, marked by a familiar horizontal barrier and the Pitchfork midline. A break below that targets 77.47 and the Pitchfork bottom (76.95). Alternatively, a push above resistance exposes the 80.00 figure and 80.39.

USDJPY_Classic_Technical_Report_09.20.2012_body_Picture_5.png, USDJPY Classic Technical Report 09.20.2012

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com

To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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