EUR/JPY Technical Analysis- Prices turned lower as expected after putting in a bearish Evening Star candlestick pattern. Sellers have now broken below the 23.6% Fibonacci retracement at 121.23, exposing the 38.2% level at 117.24. The 121.23 level has been recast as near-term resistance, with a move back above that aiming for 125.21.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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