Forex Analysis: USD/JPY Classic Technical Report 11.29.2012
Prices pulled back as expected after putting in a Spinning Top candlestick. Near-term support is at 81.99, the 14.6% Fibonacci retracement, with a break below that on a daily closing basis targeting the 23.6% level at 81.48. Alternatively, a break above resistance exposes the March 15 high at 84.17.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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