Forex: USD/JPY Technical Analysis – Advance to 99.00 Ahead?
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- Prices rose as expected after showing a Hammer candle at trend line support set from Feb
- Bulls are now testing resistance at 98.58 (50% Fib ret.); brake higher targets 99.06 (61.8% Fib)
- Reversing below support at 98.10 (38.2% Fib) initially exposes 97.51 (23.6% Fib)
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Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for DailyFX.com
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