EUR/JPY Technical Analysis- Prices broke above resistance at the top of a Triangle pattern, hinting at bullish trend resumption ahead. The first upside barrier from here lines up at 130.94, the 50% Fibonacci expansion. A break above that targets the 61.8% level at 132.35. Near-term support is at 129.53, the 38.2% Fib.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail email@example.com. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya's e-mail distribution list, please CLICK HERE
- Basic Materials Industry
- Finance Trading
- Technical Analysis