USD/JPY Technical Analysis: Support Seen Above 98.00

DailyFX

USD/JPY Technical Analysis - Prices are pulling back from falling trend line resistance set from late May. Initial support is at 98.56, the 38.2% Fibonacci retracement, with a break below that targeting the 50% mark at 96.74. Alternatively, a push above the trend line (now at 100.88) initially aims for the July 8 swing high at 101.52.

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dailyclassics_usd-jpy_body_Picture_4.png, USD/JPY Technical Analysis: Support Seen Above 98.00

Daily Chart - Created Using FXCM Marketscope 2.0

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

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