USD/JPY Technical Analysis- Prices are drifting lower after putting in a bearish Evening Star candlestick formation. Initial support lines up at 95.32, the 23.6% Fibonacci retracement. A break below that exposes the 38.2% level at 94.46. Near-term resistance is at 96.70, the March 11 high.
4hr 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