EUR/JPY Technical Analysis 04.04.2013

DailyFX

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.

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

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

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