USD/JPY Breakout Could Test 128.00 in Coming Weeks
The weekly chart shows how significant a breakout this is. The next level of chart resistance is not until the December 2002 high at 125.73. Three long term Fibonacci measurements are centered around 128.00. A confluence such as this tends to act as a magnet.
Jamie Saettele is a Technical Currency Analyst for FXCM.
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