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USD/JPY Outlook: September, 30 2013

USD/JPY Outlook: September, 30 2013

USD/JPY

The pair remains under pressure, as repeated failures to clear 99.00 barrier and trendline resistance, extended bears through triangle support at 98.47and previous low at 97.75. The fall retraced 61.8% of 95.78/100.60 rally, keeping the downside in near-term focus. Negative near-term studies, and gap-lower opening today, maintain the pressure with daily indicators breaking into negative territory supporting the notion. Next supports lay at the 96.90 higher platform and at a Fibonacci of 76.4% and 96.80, 28/08 low, while the initial barriers lay at the 98.00/30 zone. Resistance: 98.00; 98.30; 98.50; 98.80

Support: 97.62; 97.00; 96.90; 96.80

USD/JPY” title=”USD/JPY” src=”https://d1-invdn-com.akamaized.net/content/pic7a9a2b73ffb8904741d1a3e42b7a6e76.png” height=”400″ width=”800″ />

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