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Resistance now nearer at 103.72 highs

Resistance now nearer at 103.72 highs | 03 December 2013

03 December 2013, USD/JPY

The analysis hasn't really altered from yesterday: USD/JPY has paused to consolidate in a strong up-trend. This is probably just a temporary consolidation before the next break higher, targeting the 103.72 highs. A move above 103.40 would provide confirmation of such a move. There is resistance above at 104.15 providing the next target higher. A bullish count calculated from the column after the November 26 lows also gives an upside target of 104.60.

Resistance now nearer at 103.72 highs

Mark Satcher
Analyst of «FreshForex» company
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