USD/JPY Technical Analysis 03.20.2013

Ilya Spivak

Wed, Mar 20, 2013, 7:50 AM

USD/JPY Technical Analysis- Prices are probing back above support-turned-resistance at 95.32, the 23.6% Fibonacci retracement, with breach higher on a daily closing basis exposing the March 12 high at 96.70. Near-term support is at 94.46, the 38.2% retracement. A break beneath that targets the 50% level at 93.77.

Forex_USDJPY_Technical_Analysis_03.20.2013_body_Picture_5.png, USD/JPY Technical Analysis 03.20.2013

Daily Chart - Created Using FXCM Marketscope 2.0

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

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USD/JPY Technical Analysis 03.20.2013

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