EUR/JPY Technical Analysis 02.04.2013

Ilya Spivak

EUR/JPY Technical Analysis- Prices broke above resistance at 125.67, 76.4% Fibonacci expansion, exposing the 100% level at 127.08. A further push higher aims for the 123.6% level Fib at 128.43. The 125.67 mark has been recast as near-term support, with a reversal back below that targeting the 61.8% expansion at 124.83.

Forex_EURJPY_Technical_Analysis_02.04.2013_body_Picture_1.png, EUR/JPY Technical Analysis 02.04.2013
Forex_EURJPY_Technical_Analysis_02.04.2013_body_Picture_1.png, EUR/JPY Technical Analysis 02.04.2013

4hr Chart - Created Using FXCM Marketscope 2.0

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

To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak

To be added to Ilya's e-mail distribution list, please CLICK HERE

New to FX? Watch this Video. For live market updates, visit the Real Time News Feed

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from FXCM.