Forex: USD/JPY Technical Analysis 01.31.2013

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USD/JPY Technical Analysis- Prices are testing resistance at 91.33, a level marked by a rising channel top and the 38.2% Fibonacci expansion. Negative RSI divergence warns of ebbing bullish momentum and hints a reversal lower is ahead. Near-term support is at 90.06, the 23.6% Fib, with a break below that aiming for the channel bottom at 89.15.

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Forex_USDJPY_Technical_Analysis_01.31.2013_body_Picture_1.png, Forex: USD/JPY Technical Analysis 01.31.2013

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