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Talking Points

  • Prices are edging higher after forming a Bullish Engulfing candle pattern
  • Moving above 104.93 (23.6% Fib exp.) exposes 105.54 (channel bottom)
  • Reversing below 104.14 (14.6% Fib exp.) targets 102.85 (Jan 13 low)

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

dailyclassics_usd-jpy_body_Picture_4.png, Forex: USD/JPY Technical Analysis – 105.00 Figure in the Crosshairs

Daily Chart - Created Using FXCM Marketscope 2.0

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

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