Forex: USD/JPY Technical Analysis – 98.00 Fails to Hold Up
To receive Ilya's analysis directly via email, please SIGN UP HERE
- Prices are testing support at 97.45, the 38.2% Fibonacci expansion
- A break lower targets the 50% level at 96.97
- Near-term resistance is at 98.48 (Oct 22 high), 99.07 (trend line from Jun’13)
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.