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Delayed 05:00:10 2024-04-26 pm EDT			5-day change	1st Jan Change
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07:45pm	Currencies: the dollar recovers +0.4%, the yen falls -2% on the week	CF
06:22pm	Japanese Yen Weakness Not All That Bad for Japan, Deutsche Bank Says	MT

USD/JPY Technical Analysis: Three-Month Trend Line Holds Up

June 10, 2013 at 05:00 am EDT

MarketScreener.com By The editorial team

USD/JPY Technical Analysis- Prices declined as expected after putting in a Bearish Engulfing candlestick pattern. The pair found interim support in the 95.90-96.70 area, marked by a rising trend line set from late February and the March 12 high. A Hammer candlestick hints a bounce may be ahead. Initial resistance is at 98.32, the 38.2% Fibonacci retracement, with a break above that targeting the 50% level at 99.35.

dailyclassics_usd-jpy_body_Picture_4.png, USD/JPY Technical Analysis: Three-Month Trend Line Holds Up

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com

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