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Forex: USD/JPY Technical Analysis – Resistance Seen Sub-104.00

Forex: USD/JPY Technical Analysis – Resistance Seen Sub-104.00

2014-01-28 11:27:00
Ilya Spivak, Head Strategist, APAC

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Talking Points

  • Prices are rebounding from rising channel support (102.19)
  • Breaking above 103.85 (23.6% Fib exp.) exposes 104.33 (channel top)
  • Turning below 102.19 eyes 101.76 (Jan 27 low)

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

dailyclassics_usd-jpy_body_Picture_11.png, Forex: USD/JPY Technical Analysis – Resistance Seen Sub-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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