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USD/JPY Technical Analysis 02.28.2013

USD/JPY Technical Analysis 02.28.2013

Ilya Spivak, Head Strategist, APAC

USD/JPY Technical Analysis- Prices are testing support in the 91.34-92.05 area, marked by a rising trend line and the 14.6% Fibonacci retracement. A break lower initially exposes the 23.6% level at 90.48. Near-term resistance is at 94.61, the February 25 high.

Forex_USDJPY_Technical_Analysis_02.28.2013_body_Picture_5.png, USD/JPY Technical Analysis 02.28.2013

Daily 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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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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