Forex Analysis: EUR/JPY Classic Technical Report 01.16.2013

DailyFX

Prices put in a bearish Evening Star candlestick pattern below the 120.00 figure, pointing to a move lower ahead. Initial support is at 115.44, the 23.6% Fibonacci retracement, with a break below that targeting rising trend line support at 113.46 and the 38.2% level at 112.55.

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Forex_Analysis_EURJPY_Classic_Technical_Report_01.16.2013_body_Picture_1.png, Forex Analysis: EUR/JPY Classic Technical Report 01.16.2013

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

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