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Forex: USD/JPY Technical Analysis – Support Sub-98.00 Broken

Forex: USD/JPY Technical Analysis – Support Sub-98.00 Broken

2013-10-24 12:04:00
Ilya Spivak, Head Strategist, APAC
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Talking Points

  • Prices broke support at 97.45 (38.2% Fib expansion), exposing 96.97 (50% Fib, trend line)
  • A further push lower aims for 96.49 (61.8% Fib)
  • Reversing back above 97.45 eyes resistance is at 98.48 (Oct 22 high)

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

dailyclassics_usd-jpy_body_Picture_4.png, Forex: USD/JPY Technical Analysis – Support Sub-98.00 Broken

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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