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.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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