Forex: USD/JPY Technical Analysis – Resistance Met Above 104.00
To receive Ilya's analysis directly via email, please SIGN UP HERE
- Prices are testing resistance in the 104.23-39 area (channel top, 23.6% Fib exp.)
- A break higher initially targets 105.30 (38.2% Fib expansion)
- Back below support at 103.73 (May 22 high) eyes 103.00, 102.58 (channel bottom)
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.