USD / JPY Technical Forex Analysis for Forex Traders

The Dollar-Yen did not fell below 93.75 much, ad came back to the habit that we have seen in the past few days, of making us bored to death, and failing to create any strong moves upon a break. Thus, we do not see much of a change in the technical outlook. Short term support is at January 8th top93.75, and if broken the 94 adventure would have ended, even if temporary, and it will be time for an overdue correction.

Targets for this break would be the most important support for the short term 93.12 & 92.10. As for the resistance it is at 61.8% Fibonacci resistance for the drop from 94.77 which is at 94.28 & breaking it would indicate a continuation in the slow advancement to target 95.05 & 95.94.

Support:
* 93.75: Jan 8th high.
* 92.84: Fibonacci 61.8% for the rise from 92.10, a very important support for the short term.
* 92.10: Mar 30th low.

Resistance:
* 94.31: short term 61.8% Fibonacci resistance.
* 95.05: Aug 24th high.
* 95.94: Mar 30th 2009 low.