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Forex: USD/JPY Technical Analysis – Critical Breakout at Hand?

Forex: USD/JPY Technical Analysis – Critical Breakout at Hand?

2013-09-02 10:32:00
Ilya Spivak, Head Strategist, APAC

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Talking Points

  • Prices appear on the verge of completing a Triangle chart pattern, hinting at bullish continuation
  • Daily close above 98.76 (Triangle top, 38.2% Fib) confirms, initially exposing 99.67 (50% Fib)
  • Triangle bottom support is currently at 97.00, followed by a rising trend line now at 95.67

Confirm your chart-based trade setups with the Technical Analyzer.

dailyclassics_usd-jpy_body_Picture_4.png, Forex: USD/JPY Technical Analysis – Critical Breakout at Hand?

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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