Forex: EUR/JPY Technical Analysis – Support Found Above 140.00

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Talking Points

  • Prices overturned yesterday’s neckline break, forming a Bullish Engulfing pattern
  • Above 143.90 (23.6% Fib exp.) exposes 145.68-146.02 (Dec 27 high, 38.2% Fib)
  • Near-term support is at 140.49, the January 13 low

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dailyclassics_eur-jpy_body_Picture_12.png, Forex: EUR/JPY Technical Analysis – Support Found Above 140.00

Daily Chart - Created Using FXCM Marketscope 2.0

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

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