Forex: USD/JPY Technical Analysis – Triangle Consolidation Continues
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USD/JPY Technical Analysis
- Consolidation continues within a large Triangle chart pattern, a setup hinting at bullish continuation
- Key resistance is at 98.76 (Triangle top, 38.2% Fib), with a break higher exposing 99.67 (50% Fib)
- Triangle bottom support is currently at 96.94, followed by a rising trend line now at 95.63
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Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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