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Forex Analysis: USD/JPY Classic Technical Report 11.28.2012

By , Currency Strategist
28 November 2012 07:30 GMT

Prices pulled back as expected after putting in a Spinning Top candlestick. Near-term support is at 81.99, the 14.6% Fibonacci retracement, with a break below that on a daily closing basis targeting the 23.6% level at 81.48. Alternatively, a break above resistance exposes the March 15 high at 84.17.

Forex_Analysis_USDJPY_Classic_Technical_Report_11.28.2012_body_Picture_1.png, Forex Analysis: USD/JPY Classic Technical Report 11.28.2012

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

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28 November 2012 07:30 GMT