Forex: USD/JPY Technical Analysis – Rally Falters at Fib Barrier
USD/JPY Technical Analysis – A rally following the formation of a Bullish Engulfing candlestick pattern faltered below resistance at 98.78, the 38.2% Fibonacci expansion. Prices have slipped below the 23.6% level at 97.63 to test the 14.6% level at 96.93. A push below that eyes the August 8 low at 95.80 and a rising trend line at 95.36.
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Daily Chart - Created Using FXCM Marketscope 2.0
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