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Forex: USD/JPY Technical Analysis – Buyers Move to Expose 104.00

Forex: USD/JPY Technical Analysis – Buyers Move to Expose 104.00

2013-12-13 11:07:00
Ilya Spivak, Sr. Currency Strategist
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Talking Points

  • Prices are testing resistance in the 103.37-76 area (Dec 3 high, 23.6% Fib expansion)
  • Breaking higher targets 104.76 (38.2% Fib exp); negative RSI diverge warns of reversal
  • Support is at 101.77 (23.6% Fib ret.); below that exposes 100.78 (38.2% Fib ret.)

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

dailyclassics_usd-jpy_body_Picture_10.png, Forex: USD/JPY Technical Analysis – Buyers Move to Expose 104.00

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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