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Monday, 3 December 2007

iforex.bg

USD/JPY 110.62 - 3 December
USD/JPY Open 111.08 High 111.28 Low 109.54 Close 110.64

The couple USD/JPY closed last week far from its lowest point for the last two years at 111.20. Early this morning the currency couple went under 111.00 but met support at 110.40. If broken, next support is expected at 109.95 and at 38.5% Fibonacci of the last climb 107.30 - 111.20 at 109.65. Resistance for today is expected at the bottom from 17 August 111.60 and 112.10.
Technical resistance levels: 111.20 111.60 112.10
Technical support levels: 110.40 109.95 109.65

Trading range: 110.75 - 110.00
Trend: Downward
Sell at 110.62 SL 110.92 TP 110.12