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Forex: USD/JPY Technical Analysis – Momentum Fades Above 1.05

Forex: USD/JPY Technical Analysis – Momentum Fades Above 1.05

Ilya Spivak, Head Strategist, APAC

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Talking Points

  • Prices are testing resistance at 105.33 (123.6% Fib expansion)
  • A break higher initially targets 105.67 (138.2% Fib exp.)
  • Below support at 104.79 (100% Fib exp.) eyes 104.25 (76.4% Fib exp.)

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

dailyclassics_usd-jpy_body_Picture_10.png, Forex: USD/JPY Technical Analysis – Momentum Fades Above 1.05

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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