Forex Analysis: USD/JPY Classic Technical Report 01.25.2013
Prices broke above the 90.00 figure to challenge rising channel resistance at 90.97. A break above that targets the 38.2% Fibonacci expansion at 91.32. Negative RSI divergence warns of ebbing bullish and hints a turn lower may be ahead however. A reversal back below 90.00 aims for the channel bottom at 88.74.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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