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USD/JPY Technical Analysis: Bulls Return, Take Aim at 100.00

USD/JPY Technical Analysis: Bulls Return, Take Aim at 100.00

Ilya Spivak, Head Strategist, APAC

USD/JPY Technical Analysis- Prices cleared a falling trend line set from late May to challenge resistance at 98.70, the 38.2% Fibonacci expansion. A daily close above this barrier exposes the 50% level at 100.22. Near-term support is at 96.82, the 23.6% Fib.

dailyclassics_usd-jpy_body_Picture_4.png, USD/JPY Technical Analysis: Bulls Return, Take Aim at 100.00

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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