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USD/JPY Technical Analysis: Top Found Sub-0.99 Level?

Ilya Spivak

USD/JPY Technical Analysis- Prices are showing a Harami candlestick pattern below resistance marked by a falling trend line set from late May, hinting a move lower is ahead. Initial support is at 96.34, the 23.6% Fibonacci expansion, with a break below that targeting the 38.2% level at 94.89. Alternatively, a push above the trend line targets a Fib barrier at 98.70.

dailyclassics_usd-jpy_body_Picture_4.png, USD/JPY Technical Analysis: Top Found Sub-0.99 Level?

Daily Chart - Created Using FXCM Marketscope 2.0

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

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