Forex: USD/JPY Technical Analysis – Channel Top Caps Breakout
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- Prices completed abullish Triangle chart pattern, hinting the long-term uptrend is set to resume
- A break of resistance in the 99.62-67 area (channel top, 50% Fib) would expose 110.58 (61.8% Fib)
- Near-term support is now at 98.76 (38.2% Fib expansion), followed by the Triangle top at 98.33
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Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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