EUR/JPY Technical Analysis: Uptrend Resumption Signaled

DailyFX

EUR/JPY Technical Analysis- Prices broke above resistance at a falling trend line set from the May swing high, exposing the 38.2% Fibonacci expansion at 130.72. A further push above that aims for the 50% level at 132.50. Near-term support is at 128.51, the 23.6% expansion. Our short position has been stopped out.

View photo

.
dailyclassics_eur-jpy_body_Picture_11.png, EUR/JPY Technical Analysis: Uptrend Resumption Signaled

Daily Chart - Created Using FXCM Marketscope 2.0

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

To contact Ilya, e-mail ispivak@dailyfx.com. 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)