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Forex: USD/JPY Technical Analysis – Bulls Work to Retake 100.00

Forex: USD/JPY Technical Analysis – Bulls Work to Retake 100.00

Ilya Spivak, Head Strategist, APAC

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Talking Points

  • Prices are testing resistance at 100.09 (trend line support-turned-resistance from June)
  • A break higher clears the way for a test of swing highs at 100.60 and 101.52
  • Reversing back below support at 98.75 targets a minor rising trend line at 97.88

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

dailyclassics_usd-jpy_body_Picture_4.png, Forex: USD/JPY Technical Analysis – Bulls Work to Retake 100.00

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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