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.
Confirm your chart-based trade setups with the Technical Analyzer.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail email@example.com. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya's e-mail distribution list, please CLICK HERE