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Forex: USD/JPY Technical Analysis – Yen Slumps to 6-Month Low

Forex: USD/JPY Technical Analysis – Yen Slumps to 6-Month Low

Ilya Spivak, Head Strategist, APAC

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Talking Points

  • Prices broke above resistance at 101.72 (76.4% Fib exp.), exposing 102.38 (100% Fib)
  • A further break higher aims for 103.05 (123.6% Fib expansion)
  • Turning back below 101.72 targets 101.31 (61.8% Fib exp.)

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

dailyclassics_usd-jpy_body_Picture_4.png, Forex: USD/JPY Technical Analysis – Yen Slumps to 6-Month Low

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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