Forex Analysis: USD/JPY Classic Technical Report 11.16.2012
Prices are testing the 61.8% Fibonacci retracement at 81.26. A break higher exposes the 76.4% level at 81.78. Near-term support lines up at 80.84, the 50% Fib, with a drop back below that aiming for 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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