USDJPY Classic Technical Report 07.23.2012
Prices are testing through support at 78.35, with a break below that exposing the June 1 low at 77.65. Near-term falling trend line resistance lines up at 79.35, but 78.35 would be recast as the relevant upside barrier in the event of a confirmed breakdown (on a daily-closing basis).
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail firstname.lastname@example.org. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya's e-mail distribution list, send a note with subject line "Distribution List" to email@example.com