EUR/JPY Technical Analysis 04.04.2013


EUR/JPY Technical Analysis- Prices launched a sharp recovery following the BOJ monetary policy announcement, testing above the 38.2% Fibonacci retracement at 122.14. A break above that targets the 50% level at 123.20, a barrier reinforced by the underside of a previously broken rising trend line. Near-term support is at 119.10, the April 3 low.

View photo

Forex_EURJPY_Technical_Analysis_04.04.2013_body_Picture_5.png, EUR/JPY Technical Analysis 04.04.2013

Daily Chart - Created Using FXCM Marketscope 2.0

Want to back-test your technical trading strategy? Download the historical data here.

--- Written by Ilya Spivak, Currency Strategist for

To contact Ilya, e-mail 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.

View Comments (0)