EUR/JPY Technical Analysis: Yen Rally Stalls Above 128.00

Ilya Spivak


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.


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dailyclassics_eur-jpy_body_Picture_11.png, EUR/JPY Technical Analysis: Yen Rally Stalls Above 128.00
dailyclassics_eur-jpy_body_Picture_11.png, EUR/JPY Technical Analysis: Yen Rally Stalls Above 128.00

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


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