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USD/JPY Technical Analysis 03.28.2013

USD/JPY Technical Analysis 03.28.2013

Ilya Spivak, Head Strategist, APAC

USD/JPY Technical Analysis- Prices are wedged between support at 93.77, marked by the 50% Fibonacci retracement and reinforced by a rising trend line set from early January, and resistance at the 38.2% level (94.46). A break higher aims for a falling trend line at 95.88. Alternatively, a push below support targets the 61.8% Fib at 93.08.

Forex_USDJPY_Technical_Analysis_03.28.2013_body_Picture_5.png, USD/JPY Technical Analysis 03.28.2013

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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