USD/JPY Technical Analysis- Prices are retesting resistance-turned-support at 99.93, the 61.8% Fibonacci retracement, with a break back below this barrier exposing the 50% level at 98.75. Near-term resistance is at 101.38, the 76.4% Fib. A push above that eyes the May 22 high at 103.73.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail firstname.lastname@example.org. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya's e-mail distribution list, please CLICK HERE
- Finance Trading
- Basic Materials Industry