EUR/JPY Technical Analysis 06.05.2013

DailyFX

EUR/JPY Technical Analysis- Prices declined as expected to test falling trend line resistance-turned-support set from early April, now at 129.52. A break below that exposes the 38.2% Fibonacci retracementat 128.19. Near-term resistance is at 133.81, the May 22 high.

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Forex_EURJPY_Technical_Analysis_06.05.2013_body_Picture_5.png, EUR/JPY Technical Analysis 06.05.2013

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

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