Forex: EUR/JPY Technical Analysis – Readying to Turn Lower?

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Talking Points

  • A Harami candle pattern with negative RSI divergence hint at a turn lower ahead
  • Breaking support at 141.12 (14.6% Fib ret.) initially exposes 140.07 (23.6% Fib)
  • Resistance is in the 142.81-143.72 area (Dec 13 high, 23.6% Fib expansion)

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dailyclassics_eur-jpy_body_Picture_8.png, Forex: EUR/JPY Technical Analysis – Readying to Turn Lower?

Daily Chart - Created Using FXCM Marketscope 2.0

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

Contact and follow Ilya on Twitter: @IlyaSpivak

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