USD/JPY Technical Analysis – Bears Aiming Below 102.00
To receive Ilya's analysis directly via email, please SIGN UP HERE
- Prices put in a Bearish Engulfing candle pattern, hinting at a Double Top taking shape
- Near-term support is at 101.77 (23.6% Fib); below that eyes 100.78 (38.2% Fib)
- Negative RSI divergence bolsters the case for a downside scenario
Confirm your chart-based trade setups with the Technical Analyzer.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for DailyFX.com
Contact and follow Ilya on Twitter: @IlyaSpivak
New to FX? START HERE
For live market updates, visit the Real Time News Feed
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.