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Forex: USD/JPY Technical Analysis – Rebound Brewing Ahead?

Forex: USD/JPY Technical Analysis – Rebound Brewing Ahead?

Ilya Spivak, Head Strategist, APAC

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Talking Points

  • Prices are testing above 97.45 (38.2% Fib) after putting in a Hammer candle
  • A break higher on daily closing basis initially targets 98.48 (Oct 22 high)
  • Support is at 96.97 (50% Fib, trend line); below that eyes 96.49 (61.8% Fib)

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

dailyclassics_usd-jpy_body_Picture_4.png, Forex: USD/JPY Technical Analysis – Rebound Brewing Ahead?

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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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