USD/JPY Technical Analysis– Prices launched a sharp recovery following the BOJ monetary policy announcement, with buyers testing the 50% Fibonacci retracement at 95.49. A break above that aims for the 61.8% level at 96.18 and the underside of a formerly broken rising trend line at 96.41.
Daily Chart – Created Using FXCM Marketscope 2.0
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— Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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