Forex Analysis: USD/JPY Classic Technical Report 11.21.2012
Prices are testing the 76.4% Fibonacci retracement at 82.51, with a break above that exposing the March 15 high at 84.17. Near-term support is at 81.48, the 61.8% level. A drop below that targets the 80.54-65 area.
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, please CLICK HERE
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.