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Forex: USD/JPY Technical Analysis – Sideways Trade Persisting

Ilya Spivak

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Talking Points

  • Prices rose as expected after showing a Hammer candle at trend line support
  • Resistance is at 98.75 (range top); a break higher targets 99.57 (trend line)
  • Trend line support is now at 97.24, followed by swing lows at 96.93 and 96.55

Confirm your chart-based trade setups with the Technical Analyzer.

dailyclassics_usd-jpy_body_Picture_11.png, Forex: USD/JPY Technical Analysis – Sideways Trade Persisting

Daily Chart - Created Using FXCM Marketscope 2.0

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

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