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USD/JPY Technical Analysis 02.13.2013

USD/JPY Technical Analysis 02.13.2013

2013-02-13 12:29:00
Ilya Spivak, Head Strategist, APAC
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USD/JPY Technical Analysis- Prices are retesting rising channel resistance-turned-support at 92.82, with a break lower exposing the February 8 low at 92.16. Near-term resistance is at 93.57, the 23.6%Fibonacci expansion. A break above that targets the 38.2% level at 94.45.

Forex_USDJPY_Technical_Analysis_02.13.2013_body_Picture_5.png, USD/JPY Technical Analysis 02.13.2013

4hr Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com

To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak

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