USD/JPY Technical Analysis 02.12.2013

DailyFX

USD/JPY Technical Analysis- Prices are testing resistance at 94.45, the 38.2% Fibonacci expansion. A break above that exposes the 50% level at 95.16. Near-term support is at 93.57, the 23.6% Fib, with a drop below that aiming for rising channel resistance-turned-support at 92.65.

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Forex_USDJPY_Technical_Analysis_02.13.2013_body_Picture_5.png, USD/JPY Technical Analysis 02.12.2013

4hr Chart - Created Using FXCM Marketscope 2.0

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

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