Forex: USD/JPY Technical Analysis – Uptrend Back in Play?
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- A Bullish Engulfing candle pattern above trend line support hints at a rebound
- Near-term resistance is at 99.59 (38.2% Fib); break higher targets 100.15 (50% Fib)
- Support is at 98.89 (23.6% Fib); a reversal beneath that eyes the trend line at 97.89
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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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