USD/JPY Technical Analysis: Rally Falters Near 101.50

DailyFX

USD/JPY Technical Analysis- Prices have turned lower, threatening to overturn the rising trend set from mid-June. Initial support is at 99.17, the 23.6% Fibonacci expansion. A break beneath that targets the 38.2% level at 97.72. Near-term resistance is at 101.52, the July 8 swing high.

View photo

.
dailyclassics_usd-jpy_body_Picture_8.png, USD/JPY Technical Analysis: Rally Falters Near 101.50

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.

Rates

View Comments (0)