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Forex: USD/JPY Technical Analysis – 8-Month Support at Risk

Forex: USD/JPY Technical Analysis – 8-Month Support at Risk

Ilya Spivak, Head Strategist, APAC

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Talking Points

  • Prices are targeting support at 96.31 (rising trend line from late Feb)
  • A break below that broadly aims for 93.78 (June 19 low)
  • Near-term resistance is at 98.47 (falling channel top, trend line from June)

Confirm your chart-based trade setups with the Technical Analyzer.

dailyclassics_usd-jpy_body_Picture_4.png, Forex: USD/JPY Technical Analysis – 8-Month Support at Risk

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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