USDJPY Classic Technical Report 10.12.2012
Prices bounced from support at 77.95, the 23.6% Fibonacci retracement, to test the 38.2% level at 78.45. A break above that exposes the top of a falling channel set from late June, now at 78.79. Alternatively, a reversal below support targets 77.47.
Daily Chart - Created Using FXCM Marketscope 2.0
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