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Forex: USD/JPY Technical Analysis – Advance to 99.00 Ahead?

Forex: USD/JPY Technical Analysis – Advance to 99.00 Ahead?

Ilya Spivak, Head Strategist, APAC

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Talking Points

  • Prices rose as expected after showing a Hammer candle at trend line support set from Feb
  • Bulls are now testing resistance at 98.58 (50% Fib ret.); brake higher targets 99.06 (61.8% Fib)
  • Reversing below support at 98.10 (38.2% Fib) initially exposes 97.51 (23.6% Fib)

Confirm your chart-based trade setups with the Technical Analyzer.

dailyclassics_usd-jpy_body_Picture_12.png, Forex: USD/JPY Technical Analysis – Advance to 99.00 Ahead?

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for DailyFX.com

Contact and follow Ilya on Twitter: @IlyaSpivak

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