USD/JPY Technical Analysis- Prices are wedged between support at 93.77, marked by the 50% Fibonacci retracement and reinforced by a rising trend line set from early January, and resistance at the 38.2% level (94.46). A break higher aims for a falling trend line at 95.88. Alternatively, a push below support targets the 61.8% Fib at 93.08.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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