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USD/JPY Technical Analysis: Resistance Seen Above 100.00

USD/JPY Technical Analysis: Resistance Seen Above 100.00

2013-07-02 02:47:00
Ilya Spivak, Head Strategist, APAC
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USD/JPY Technical Analysis- Prices cleared resistance at 98.70, the 38.2% Fibonacci expansion, clearing the way for a challenge of the 50% level at 100.22. A further push above that aims for the 61.8% Fib at 101.74. The 98.70 mark has been recast support, with a move back beneath that eyeing the 23.6% expansion at 96.82.

dailyclassics_usd-jpy_body_Picture_4.png, USD/JPY Technical Analysis: Resistance Seen Above 100.00

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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