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Forex Analysis: USD/JPY Classic Technical Report 12.20.2012

By , Currency Strategist
20 December 2012 11:44 GMT

Prices pulled back from resistance at 84.54, the 50% Fibonacci expansion. Near-term support is at 83.83, the 38.2% expansion. A drop below that targets the 23.6% Fib at 83.01. Alternatively, a reversal through resistance exposes the 61.8% level at 85.14

Forex_Analysis_USDJPY_Classic_Technical_Report_12.20.2012_body_Picture_1.png, Forex Analysis: USD/JPY Classic Technical Report 12.20.2012

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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20 December 2012 11:44 GMT