USD/JPY Technical Analysis– Prices are looking for direction below resistance at 100.06, the 23.6% Fibonacciexpansion. A break higher exposes the 38.2% level at 101.19. Near-term support is at 98.56, the 38.2% Fib retracement. A reversal below this barrier eyes the 50% mark 97.65.
Daily Chart – Created Using FXCM Marketscope 2.0
— Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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