USD/JPY Technical Analysis- Prices broke above resistance at 93.32, the 50% Fibonacci expansion, exposing the 61.8% level at 93.34. A push this barrier eyes the 76.4% Fib at 94.60. The 93.32 level has been recast as near-term support, with a reversal back below that aiming for the 38.2% expansion at 91.33.
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