USD/JPY Technical Analysis: Sellers Retake the Reins
USD/JPY Technical Analysis- Prices have turned lower, overturning the rising trend set from mid-June. Initial support is at 99.17, the 23.6% Fibonacci expansion. A break beneath that targets the 38.2% level at 97.72. Near-term resistance is at 101.52, the July 8 swing high.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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