Forex Analysis: USD/JPY Classic Technical Report 11.14.2012

DailyFX

Prices are testing rising trend line support set from late September, a barrier reinforced by the 38.2% Fibonacci retracement at 79.31. A break below that targets the 50% level at 78.89. Near-term resistance lines up at the 80.00 figure, with a push above that targeting a familiar horizontal barrier at 80.54.

View photo

.
Forex_Analysis_USDJPY_Classic_Technical_Report_11.14.2012_body_Picture_5.png, Forex Analysis: USD/JPY Classic Technical Report 11.14.2012

Daily Chart - Created Using FXCM Marketscope 2.0

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

To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak

To be added to Ilya's e-mail distribution list, please CLICK HERE

New to FX? Watch this Video. For live market updates, visit the Real Time News Feed

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from FXCM.

View Comments (0)