Forex: USD/JPY Technical Analysis – Rebound Brewing Ahead?
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- Prices are testing above 97.45 (38.2% Fib) after putting in a Hammer candle
- A break higher on daily closing basis initially targets 98.48 (Oct 22 high)
- Support is at 96.97 (50% Fib, trend line); below that eyes 96.49 (61.8% Fib)
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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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