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Positive Jobs Report Pushes USD/JPY to Range Resistance

From fxtimes.com

Today’s Non-Farm Payroll showed positive data for the jobs market in November. Better-than expected job creation numbers, and the lowest unemployment rate since Dec. 2008 (7.7%) gave the US dollar a boost against its safe haven rival Japanese yen. Let’s take a look at the USD/JPY charts. USD/JPY 4H Chart 12/4/2012 10:00PM EST Consolidation range: The has been consolidation in a range between 81.68 support and 82.82 resistance. You can say the central pivot is around 82.21. I mention the central pivot because recent price action tested this and respected it as support, showing bullish bias within the sideways market. ... (full story)

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