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USD/JPY Technical Analysis: Support Seen Below 100.00

Ilya Spivak

USD/JPY Technical Analysis- Prices are retesting resistance-turned-support at 99.93, the 61.8% Fibonacci retracement, with a break back below this barrier exposing the 50% level at 98.75. Near-term resistance is at 101.38, the 76.4% Fib. A push above that eyes the May 22 high at 103.73.

dailyclassics_usd-jpy_body_Picture_4.png, USD/JPY Technical Analysis: Support Seen Below 100.00

Daily Chart - Created Using FXCM Marketscope 2.0

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

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