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USD/JPY Technical Analysis 03.21.2013

USD/JPY Technical Analysis 03.21.2013

2013-03-21 12:21:00
Ilya Spivak, Head Strategist, APAC
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USD/JPY Technical Analysis- Prices took out resistance at 95.45, the 23.6% Fibonacci expansion, exposing the 38.2% level at 96.31. A break above that aims for the 50% Fib at the 97.00 figure. The 95.45 level has been recast as near-term support, with a drop below that aiming for the 14.6% expansion at 94.92.

Forex_USDJPY_Technical_Analysis_03.21.2013_body_Picture_5.png, USD/JPY Technical Analysis 03.21.2013

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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