Forex: USD/JPY Technical Analysis – Trend Line Marks Support

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Talking Points

  • Prices are bounding from trend line support set from mid-June (97.81)
  • Near-term resistance is at 98.89 (23.6% Fib); break above that targets 99.59 (38.2% Fib)
  • Turn below support aims for a trend line set from late February (now at 96.03)

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dailyclassics_usd-jpy_body_Picture_4.png, Forex: USD/JPY Technical Analysis – Trend Line Marks Support

Daily Chart - Created Using FXCM Marketscope 2.0

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

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