Forex: USD/JPY Technical Analysis – Reversal Lower Signaled

Ilya Spivak

Fri, Sep 13, 2013, 6:45 AM

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Talking Points

Dark Cloud Cover candle pattern, negative RSI divergence warn of downturn ahead
Initial support is at 99.47 (rising trend line, 23.6% Fibonacci retracement)
Break lower exposes 98.77 (38.2% Fib), near-term resistance at 100.60 (Sep. 11 high)

Confirm your chart-based trade setups with the Technical Analyzer.

dailyclassics_usd-jpy_body_Picture_4.png, Forex: USD/JPY Technical Analysis – Reversal Lower Signaled

Daily Chart - Created Using FXCM Marketscope 2.0

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

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