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Forex pairs in this Article » USD/JPY
FXstreet.com (Barcelona) - Commerzbank analysts have no choice but to assume that further gains are likely after seeing such a massive acceleration higher through their target zone. "Our next upside resistance is 82.68, 78.6% retracement of the move seen this year, the TD combo 13 count on the 240 minute chart does point to likelihood of consolidation ahead of further gains very near term", wrote analyst Karen Jones, pointing to 83.20 (2011-2012 resistance line), 84.19 (2012 high) and 85.18 (200-week MA) after breaching above 82.68. "Good support is seen at 81.78 (April high) ahead of 80.63 (June high)", Jones added.
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