Forex Analysis: USD/JPY Classic Technical Report 12.27.2012

DailyFX

Prices broke above resistance at 85.45, the 100% Fibonacci expansion. The bulls now target the 123.6% level at 86.33. The 85.45 level has been recast as near-term support, with a drop below that exposing the 76.4% mark at 84.55.

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Forex_Analysis_USDJPY_Classic_Technical_Report_12.27.2012_body_Picture_1.png, Forex Analysis: USD/JPY Classic Technical Report 12.27.2012

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

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