USD/JPY Technical Analysis 02.06.2013
USD/JPY Technical Analysis- Prices are putting back from resistance at 93.92m the 38.2% Fibonacci expansion. Negative RSI divergence argues in favor of a downside scenario. Initial support is at 93.17, the 23.6% level, with a break below that exposing a minor rising channel bottom at 92.72. Alternatively, a turn above resistance aims for the channel top at 94.22
4hr 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
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.