Forex Analysis: USD/JPY Classic Technical Report 11.16.2012

DailyFX

Prices are testing the 61.8% Fibonacci retracement at 81.26. A break higher exposes the 76.4% level at 81.78. Near-term support lines up at 80.84, the 50% Fib, with a drop back below that aiming for the 79.91-80.00 area.

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Forex_Analysis_USDJPY_Classic_Technical_Report_11.16.2012_body_Picture_5.png, Forex Analysis: USD/JPY Classic Technical Report 11.16.2012

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

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