Forex: USD/JPY Technical Analysis – Rally Ready to Resume?
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- Prices put in a Bullish Engulfing candle pattern, hinting at gains ahead
- Breaking above 104.93 (23.6% Fib exp.) targets 106.23 (38.2% Fib exp.)
- Near-term support is at 102.85, the January 13 swing low
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Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for DailyFX.com
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