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Forex: USD/JPY Technical Analysis – Bears Aiming Below 97.00

Forex: USD/JPY Technical Analysis – Bears Aiming Below 97.00

2013-10-01 11:52:00
Ilya Spivak, Head Strategist, APAC
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Talking Points

  • 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.

dailyclassics_usd-jpy_body_Picture_4.png, Forex: USD/JPY Technical Analysis – Bears Aiming Below 97.00

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for DailyFX.com

Contact and follow Ilya on Twitter: @IlyaSpivak

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