Forex Analysis: USD/JPY Classic Technical Report 01.10.2013

DailyFX

Prices put in a bearish Three Inside Down candlestick pattern, hinting a move lower may be ahead. A break below 14.6% Fibonacci retracement support at 87.04 exposes the 23.6% level at 86.20. Near-term resistance is at 88.40, the January 4 high.

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Forex_Analysis_USDJPY_Classic_Technical_Report_01.10.2013_body_Picture_1.png, Forex Analysis: USD/JPY Classic Technical Report 01.10.2013

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--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com

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