Forex: USD/JPY Technical Analysis – A Top in Place Above 103.00?
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- Prices turned lower as expected after showing a Dark Cloud Cover candle pattern
- Breaking support at 101.76 (23.6% Fib, channel bottom) exposes 100.77 (38.2% Fib)
- Above channel support-turned-resistance (102.29) targets the Dec 3 high at 103.37
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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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