USD/JPY Technical Analysis- Prices are pulling back from resistance near the 100.00 figure to approach support at 98.20, the 23.6% Fibonacci retracement. A break below that aims for the 38.2% level at 97.12. Alternatively, a move above 100.00 exposes Fib expansion objectives at 100.34 and 101.42.
Daily Chart - Created Using FXCM Marketscope 2.0
Want to back-test your technical trading strategy? Download the historical data here.
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail email@example.com. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya's e-mail distribution list, please CLICK HERE