USD/JPY Technical Analysis: Sellers Target July Bottom
USD/JPY Technical Analysis - Prices slipped below support-turned-resistance at 98.85, the June 3 low, exposing the 38.2% Fibonacci expansion at 97.72. A further drop below that eyes the 50% level at 96.54. Alternatively, a move back above 98.85 eyes a falling trend line set from the May 22 swing high, now at 99.73.
Confirm your chart-based trade setups with the Technical Analyzer.
Daily Chart - Created Using FXCM Marketscope 2.0
--- 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