Forex Analysis: USD/JPY Classic Technical Report 11.15.2012
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.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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