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Forex: USD/JPY Technical Analysis – Yen Soars to 4-Week High

Forex: USD/JPY Technical Analysis – Yen Soars to 4-Week High

2014-01-14 08:17:00
Ilya Spivak, Head Strategist, APAC
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Talking Points

  • Prices broke support at 103.32 (23.6% Fib ret.), exposing 102.02 (38.2% Fib ret.)
  • A further push beneath that targets 100.98 (50% Fib retracement)
  • Back above 103.32 aims for 104.11 (14.6 % Fib ret.)

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

dailyclassics_usd-jpy_body_Picture_10.png, Forex: USD/JPY Technical Analysis – Yen Soars to 4-Week High

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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