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USD/JPY Technical Analysis 03.07.2013

USD/JPY Technical Analysis 03.07.2013

Ilya Spivak, Head Strategist, APAC

USD/JPY Technical Analysis- Prices are approaching resistance at 94.96, a barrier marked by the 23.6% Fibonacci expansion and a formerly broken rising trend line. A break above that targets the 38.2% level at 97.52. Near-term support is at 90.84, the February 25 low.

Forex_USDJPY_Technical_Analysis_03.07.2013_body_Picture_3.png, USD/JPY Technical Analysis 03.07.2013

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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