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Forex Analysis: USD/JPY Classic Technical Report 11.23.2012

Forex Analysis: USD/JPY Classic Technical Report 11.23.2012

2012-11-23 07:57:00
Ilya Spivak, Head Strategist, APAC
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Prices put in a Spinning Top candlestick below resistance at 82.51, the 76.4% Fibonacci retracement, hinting a pullback may be ahead. Near-term support is at 81.48, the 61.8% level, a drop below that targeting the 80.54-65 area. Alternatively, a break above resistance exposes the March 15 high at 84.17.

Forex_Analysis_USDJPY_Classic_Technical_Report_11.23.2012_body_Picture_1.png, Forex Analysis: USD/JPY Classic Technical Report 11.23.2012

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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