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USD/JPY Still Locked in Tight Consolidation

Ilya Spivak

USD/JPY Technical Strategy: Flat


Prices are consolidating in a Triangle formation below the 100.00 figure. Near-term support is at 97.18, with a break below that exposing a pivot barrier at 96.28. The Triangle top is at 99.62. We continue to look for a significant correction to enter long at lower levels.


Forex_Analysis_USDJPY_Still_Locked_in_Tight_Consolidation_body_Picture_5.png, USD/JPY Still Locked in Tight Consolidation

Daily Chart - Created Using FXCM Marketscope 2.0



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


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