Forex: USD/JPY Technical Analysis – Flat-lined Below 105.00
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- Prices edged higher after forming a Bullish Engulfing candle pattern
- Above 104.93 (23.6% Fib exp.) eyes 105.40-66 (Dec30 high, channel bottom)
- Reversing below 104.14 (14.6% Fib exp.) targets 102.85 (Jan 13 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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