Forex: USD/JPY Technical Analysis – Resistance Met Below 102.00
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- Prices are pulling back from resistance in the 101.52-72 area (July 9 high, 76.4% Fib exp.)
- Support is at 101.31 (61.8% Fib exp.); breaking below that eyes 100.97 (50% Fib exp.)
- A turn above resistance clears the way for a test of 102.38 (100% Fib exp.)
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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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