Forex: USD/JPY Technical Analysis – Resistance Met Below 102.00

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Talking Points

  • Prices are pulling back from resistance in the 101.52-72 area (July 9 high, 76.4% Fib exp.)
  • Support is at 101.31 (61.8% Fib exp.); breaking below that eyes 100.97 (50% Fib exp.)
  • A turn above resistance clears the way for a test of 102.38 (100% Fib exp.)

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dailyclassics_usd-jpy_body_Picture_10.png, Forex: USD/JPY Technical Analysis – Resistance Met Below 102.00

Daily Chart - Created Using FXCM Marketscope 2.0

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

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