USD/JPY Technical Analysis - Oct. 24, 2012

USD/JPY: the market has blasted through the resistance at the top of the triangle consolidation pattern we have seen for quite some time (since June). That level was at 79.53. We will next see a test of the key, psychologically significant level at 80.00. A break above that can test 80.39.
Alternatively, a move lower can test former resistance now support at 79.53. A move below that can test 79.00.

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