EUR/JPY Technical Analysis- Prices are testing above resistance at 125.15, the 23.6% Fibonacci expansion. A confirmed break to the upside targets the February 6 high at 127.70 and the 38.2% level at 129.16. Near-term support is marked by a formerly broken falling trend line at 123.60, with a drop beneath that aiming for the February 25 low at 118.71.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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