Forex Analysis: USD/JPY Classic Technical Report 12.14.2012
Prices broke resistance is at 83.45, the 123.6%Fibonacci expansion, to challenge the 138.2% level at 83.97. A further push higher above this boundary targets the 150% level at 84.38. The 83.45 level has been recast as support. A drop below that eyes the 76.4% expansionat 82.62.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail email@example.com. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya's e-mail distribution list, please CLICK HERE