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Talking Points

  • Prices are testing above resistance in the 101.52-72 area (July 9 high, 76.4% Fib exp.)
  • A break higher initially clears the way for a test of 102.38 (100% Fib exp.)
  • Support is at 101.31 (61.8% Fib exp.); below that eyes 100.97 (50% Fib exp.)

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

dailyclassics_usd-jpy_body_Picture_10.png, USD/JPY Technical Analysis – Trying to Expose 102.00 Level

Daily Chart - Created Using FXCM Marketscope 2.0

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

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