USD/JPY Technical Analysis 04.18.2013
USD/JPY Technical Analysis- Prices turned lower as expected after putting in a Harami candlestick pattern. Prices have now recovered above the 23.6% Fibonacci retracement at 97.79, exposing the 14.6% level at 98.61. A further push above that targets the April 11 swing high at 99.94. The 97.79 level has been recast as support, with a reversal back beneath that aiming for the 38.2% retracement at 96.46.
Daily Chart - Created Using FXCM Marketscope 2.0
Want to back-test your technical trading strategy? Download the historical data here.
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail firstname.lastname@example.org. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya's e-mail distribution list, please CLICK HERE