Forex: USD/JPY Technical Analysis – Stalling Above 98.00 Mark
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- Prices rose as expected after showing a Hammer candle at trend line support set from Feb
- Resistance is now at 98.58 (50% Fib ret.); a break higher initially targets 99.06 (61.8% Fib)
- A turn back below support at 98.10 (38.2% Fib) 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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