Forex: USD/JPY Technical Analysis – Buyers Move to Expose 104.00
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- Prices are testing resistance in the 103.37-76 area (Dec 3 high, 23.6% Fib expansion)
- Breaking higher targets 104.76 (38.2% Fib exp); negative RSI diverge warns of reversal
- Support is at 101.77 (23.6% Fib ret.); below that exposes 100.78 (38.2% Fib ret.)
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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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