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USD/JPY Technical Analysis 04.05.2013

USD/JPY Technical Analysis 04.05.2013

2013-04-05 11:52:00
Ilya Spivak, Head Strategist, APAC
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USD/JPY Technical Analysis- Prices are testing resistance at 96.70, the March 12 high. A break above that targets the 123.6% Fibonacci extension. Near-term trend line support is at 94.41, with a push below that eyeing the April 2 low at 92.56.

Forex_USDJPY_Technical_Analysis_04.05.2013_body_Picture_5.png, USD/JPY Technical Analysis 04.05.2013

Daily Chart - Created Using FXCM Marketscope 2.0

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--- 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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