Forex: USD/JPY Technical Analysis – Bears Aiming Below 97.00
To receive Ilya's analysis directly via email, please SIGN UP HERE
- Prices are testing below a rising trend line set from mid-June (98.26)
- Daily close below this barrier initially targets 96.28 (trend line from February)
- Downward-sloping resistance is at 98.75; above that eyes 100.60 (Sep 11 high)
Confirm your chart-based trade setups with the Technical Analyzer.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for DailyFX.com
Contact and follow Ilya on Twitter: @IlyaSpivak
New to FX? Watch this Video
For live market updates, visit the Real Time News Feed
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.