Forex: USD/JPY Technical Analysis – Channel Bottom in Play
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- Prices are testing support at 104.13 (14.6% Fib exp, channel bottom)
- A break lower initially exposes 103.34 (23.6% Fib exp.)
- Near-term resistance is at 105.43 (January 2 swing high)
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--- Written by Ilya Spivak, Currency Strategist for DailyFX.com
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