Forex: EUR/JPY Technical Analysis – Euro Falters at Resistance

DailyFX

To receive Ilya's analysis directly via email, please SIGN UP HERE

EUR/JPY Technical Analysis - Prices moved lower as expected after putting in a Shooting Star candlestick below resistance at a falling trend line set from late May. The pair is now testing through support at 130.90, the 23.6% Fibonacci retracement, to challenge an upward-sloping hurdle at 130.41. A break below that eyes the 38.2% Fib at 129.76. Trend line resistance is now at 132.21.

Confirm your chart-based trade setups with the Technical Analyzer.

View photo

.
dailyclassics_eur-jpy_body_Picture_11.png, Forex: EUR/JPY Technical Analysis – Euro Falters at Resistance

Daily Chart - Created Using FXCM Marketscope 2.0

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

To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak

New to FX? Watch this Video. For live market updates, visit the Real Time News Feed

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from FXCM.

View Comments (0)