U.S. Markets closed

USD/JPY Technical Analysis 04.29.2013

Ilya Spivak

USD/JPY Technical Analysis- Prices recoiled from resistance below the 100.00 figure to test support at 97.79, the 23.6% Fibonacci retracement. A break below this barrier initially exposes the 38.2% level at 96.46. Near-term resistance is at 98.60, the 38.2% Fib expansion, with a push above that eyeing the 50% mark at 99.47.

Forex_USDJPY_Technical_Analysis_04.29.2013_body_Picture_5.png, USD/JPY Technical Analysis 04.29.2013

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.