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USD/JPY Technical Analysis: Support Above 0.95 Targeted

By , Currency Strategist
08 August 2013 07:08 GMT

USD/JPY Technical Analysis - Prices took out support at 96.55, the 50%Fibonacci expansion, to expose the 61.8% level at 95.37. This barrier is reinforced by a rising trend line set from late February, now at 95.17. Alternatively, a move back above 96.55 aims for the 38.2% expansion at 97.72.

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dailyclassics_usd-jpy_body_Picture_4.png, USD/JPY Technical Analysis: Support Above 0.95 Targeted

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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08 August 2013 07:08 GMT