Forex: USD/JPY Technical Analysis – All Eyes on 102.00 Mark

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Talking Points

  • A Dark Cloud Cover candle pattern hints a move lower is ahead
  • Breaking support at 102.01 (23.6% Fib, channel bottom) exposes 101.17 (38.2% Fib)
  • Resistance is 103.37 (Dec 3 high); above that aims for 103.60 (channel top)

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dailyclassics_usd-jpy_body_Picture_12.png, Forex: USD/JPY Technical Analysis – All Eyes on 102.00 Mark

Daily Chart - Created Using FXCM Marketscope 2.0

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

Contact and follow Ilya on Twitter: @IlyaSpivak

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