EUR/JPY Technical Analysis 02.25.2013

DailyFX

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.

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Forex_EURJPY_Technical_Analysis_02.25.2013_body_Picture_5.png, EUR/JPY Technical Analysis 02.25.2013

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

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