USDJPY Classic Technical Report 10.02.2012


Prices broke back above resistance at 77.96, opening the door for continued upside. Resistance lines up at the top of a falling channel set from late July, now at 78.97. The 77.96 level has been recast as near-term support, with a push back below that exposing 77.47 anew.

View photo

USDJPY_Classic_Technical_Report_10.02.2012_body_Picture_5.png, USDJPY Classic Technical Report 10.02.2012

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for

To contact Ilya, e-mail Follow Ilya on Twitter at @IlyaSpivak

To be added to Ilya's e-mail distribution list, send a note with subject line "Distribution List" to

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)