USD/JPY Technical Analysis: Interim Chart Support Found

DailyFX

USD/JPY Technical Analysis- Prices found support at 98.56, the 38.2% Fibonacci retracement, after breaking rising trend line support defining the rising trend from the mid-June swing bottom. Near-term resistance is at 99.69, the 23.6% level, with a break above that exposing the July 8 high at 101.52. Alternatively, a reversal beneath support eyes the 50% Fib at 97.65.

View photo

.
dailyclassics_usd-jpy_body_Picture_4.png, USD/JPY Technical Analysis: Interim Chart Support Found

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)