U.S. Markets open in 1 hr 4 mins

USD/JPY Rally Continues, Prices Testing 95.00

Ilya Spivak

USD/JPY Technical Strategy: Flat


Prices are testing above resistance at 94.96, a barrier marked by the 23.6% Fibonacci expansion and a formerly broken rising trend line. A break above that targets the 38.2% level at 97.52. Near-term support is at 90.84, the February 25 low. Current positioning does not offer an actionable trade setup and we will stand aside for now.


Forex_Analysis_USDJPY_Rally_Continues_Prices_Testing_95.00_body_Picture_5.png, USD/JPY Rally Continues, Prices Testing 95.00

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.