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USD/JPY Technical Analysis 03.01.2013

USD/JPY Technical Analysis 03.01.2013

2013-03-01 17:14:00
Ilya Spivak, Head Strategist, APAC
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USD/JPY Technical Analysis- Prices edging higher from support in the 91.34-92.05 area, marked by a rising trend line and the 14.6% Fibonacci retracement. Near-term resistance is at 94.61, the February 25 high. Alternatively, a reversal downward through support initially exposes the 23.6% level at 90.48.

Forex_USDJPY_Technical_Analysis_03.01.2013_body_Picture_5.png, USD/JPY Technical Analysis 03.01.2013

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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