Forex Analysis: USD/JPY Classic Technical Report 01.09.2013
Prices put in a bearish Three Inside Down candlestick pattern, hinting a move lower is ahead. A break below 14.6% Fibonacci retracement support at 87.04 exposes the 23.6% level at 86.20. Near-term resistance is at 88.40, the January 4 high.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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