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Forex Analysis: USD/JPY Classic Technical Report 11.15.2012

Forex Analysis: USD/JPY Classic Technical Report 11.15.2012

2012-11-15 12:50:00
Ilya Spivak, Head Strategist, APAC
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Prices are pushing aggressively higher from rising trend line support set from late September, with the bulls now challenging the 61.8% Fibonacci retracement at 81.26. A break above that exposes the 76.4% level at 81.78. The first layer of major support is in the 79.91-80.00 area.

Forex_Analysis_USDJPY_Classic_Technical_Report_11.15.2012_body_Picture_5.png, Forex Analysis: USD/JPY Classic Technical Report 11.15.2012

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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