EUR/JPY Technical Analysis - Prices are testing below support at 129.35, the 38.2% Fibonacci expansion, with a break confirmed on a daily closing basis exposing the 50% level at 128.31. Near-term resistance is at 130.65, the 23.6% Fib. A recovery above that initially targets the 14.6% expansion at 131.44.
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Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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