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Forex: USD/JPY Technical Analysis – Focus on Channel Support

Forex: USD/JPY Technical Analysis – Focus on Channel Support

2014-01-07 07:37:00
Ilya Spivak, Head Strategist, APAC
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Talking Points

  • 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)

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

dailyclassics_usd-jpy_body_Picture_12.png, Forex: USD/JPY Technical Analysis – Focus on Channel Support

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

Contact and follow Ilya on Twitter: @IlyaSpivak

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