Forex: USD/JPY Technical Analysis – Channel Support Holds Up
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- Prices are bounding from support at 104.13 (14.6% Fib ret., channel bottom)
- Near-term resistance is at 105.43 (Jan 2 high), followed by 105.98 (channel top)
- A reversal below support exposes 103.32 (23.6% 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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