EUR/JPY Technical Analysis - Prices rebounded from support at 128.31, the 50% Fibonacci expansion, to retest the 38.2% level at 129.35. A break back above that aims for the 23.6% Fib at 130.65. Alternatively, a reversal below support targets the 61.8% expansion at 127.26.
Confirm your chart-based trade setups with the Technical Analyzer.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail firstname.lastname@example.org. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya's e-mail distribution list, please CLICK HERE
- Finance Trading
- Basic Materials Industry
- Technical Analysis