U.S. Markets closed

Forex Analysis: USD/JPY Classic Technical Report 12.14.2012

Ilya Spivak

Prices broke resistance is at 83.45, the 123.6%Fibonacci expansion, to challenge the 138.2% level at 83.97. A further push higher above this boundary targets the 150% level at 84.38. The 83.45 level has been recast as support. A drop below that eyes the 76.4% expansionat 82.62.

Forex_Analysis_USDJPY_Classic_Technical_Report_12.14.2012_body_Picture_1.png, Forex Analysis: USD/JPY Classic Technical Report 12.14.2012

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.