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Forex: USD/JPY Technical Analysis – Resistance Met Above 104.00

Forex: USD/JPY Technical Analysis – Resistance Met Above 104.00

2013-12-19 13:11:00
Ilya Spivak, Head Strategist, APAC
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Talking Points

  • 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.

dailyclassics_usd-jpy_body_Picture_10.png, Forex: USD/JPY Technical Analysis – Resistance Met Above 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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