EUR/JPY Technical Analysis- Prices turned lower as expected after putting in a bearish Evening Star candlestick pattern. Sellers now aim to challenge the 23.6% Fibonacci retracement at 121.23, with a break lower exposing the 38.2% level at 117.24. Falling channel resistance is at 125.46. A push above that aims for the February 6 high at 127.70.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail email@example.com. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya's e-mail distribution list, please CLICK HERE