Forex: USD/JPY Technical Analysis – Triangle Consolidation Continues

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USD/JPY Technical Analysis

  • Consolidation continues within a large Triangle chart pattern, a setup hinting at bullish continuation
  • Key resistance is at 98.76 (Triangle top, 38.2% Fib), with a break higher exposing 99.67 (50% Fib)
  • Triangle bottom support is currently at 96.94, followed by a rising trend line now at 95.63

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dailyclassics_usd-jpy_body_Picture_4.png, Forex: USD/JPY Technical Analysis – Triangle Consolidation Continues

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

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