Forex: USD/JPY Technical Analysis – Downturn Signaled Ahead
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- Dark Cloud Cover candle pattern, negative RSI divergence warn of downturn ahead
- Initial support is at 99.47 (rising trend line, 23.6% Fibonacci retracement)
- Break lower exposes 98.77 (38.2% Fib), near-term resistance at 100.60 (Sep. 11 high)
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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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