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Forex: USD/JPY Technical Analysis – Rally Cut Short at 100.00

Forex: USD/JPY Technical Analysis – Rally Cut Short at 100.00

Ilya Spivak, Head Strategist, APAC

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Talking Points

  • Prices pulled back from resistance in the 100.31-60 area (Sep top, trend line from mid-June)
  • Support is at 98.75; breaking below that eyes 98.05 (rising trend line from Oct 8 bottom)
  • A reversal upward through resistance targets 101.52 (July 8 swing high)

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

dailyclassics_usd-jpy_body_Picture_10.png, Forex: USD/JPY Technical Analysis – Rally Cut Short at 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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