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Forex: USD/JPY Technical Analysis – Triangle Breakout Complete

Forex: USD/JPY Technical Analysis – Triangle Breakout Complete

2013-09-03 03:38:00
Ilya Spivak, Head Strategist, APAC
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Talking Points

  • Prices completed abullish Triangle chart pattern, hinting the long-term uptrend is set to resume
  • Break of resistance in the 99.55-67 area (50% Fib expansion, channel top) exposes 110.58 (61.8% Fib)
  • Near-term support is now at 98.76 (38.2% Fib), followed by the Triangle top at 98.37

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

dailyclassics_usd-jpy_body_Picture_5.png, Forex: USD/JPY Technical Analysis – Triangle Breakout Complete

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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