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USDJPY Classic Technical Report 09.24.2012

USDJPY Classic Technical Report 09.24.2012

Ilya Spivak, Head Strategist, APAC

Prices turned lower from Andrew’s Pitchfork resistance to test support at 77.96, marked by the June 1 close and the Pitchfork midline. A break below that targets the September 13 close at 77.47 and the Pitchfork bottom (76.90). Pitchfork top resistance is now squarely at 78.97, with a break above that exposing 79.65 and 80.39.

USDJPY_Classic_Technical_Report_09.24.2012_body_Picture_5.png, USDJPY Classic Technical Report 09.24.2012

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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