Forex: USD/JPY Technical Analysis – Treading Water at 99.00
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- Prices fell as expected after showing a Dark Cloud Cover candle pattern, negative RSI divergence
- A break below support at 98.77 (38.2% Fib retracement) exposes 98.20 (50% Fib)
- Reversing above resistance at 99.47 (23.6% Fib) aims for a rising trend line at 100.56
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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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