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USD/JPY Technical Analysis 04.04.2013

USD/JPY Technical Analysis 04.04.2013

2013-04-04 11:17:00
Ilya Spivak, Head Strategist, APAC
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USD/JPY Technical Analysis- Prices launched a sharp recovery following the BOJ monetary policy announcement, with buyers testing the 50% Fibonacci retracement at 95.49. A break above that aims for the 61.8% level at 96.18 and the underside of a formerly broken rising trend line at 96.41.

Forex_USDJPY_Technical_Analysis_04.04.2013_body_Picture_5.png, USD/JPY Technical Analysis 04.04.2013

Daily Chart - Created Using FXCM Marketscope 2.0

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--- 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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