Forex: EUR/JPY Technical Analysis – Selloff Gaining Momentum

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Talking Points

  • Prices are testing below 132.58 (23.6% Fib) to expose 131.12 (38.2% Fib, trend line)
  • A break below that initially exposes 129.94 (50% Fib)
  • Rising channel support-turned-resistance is now at 133.47

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dailyclassics_eur-jpy_body_Picture_11.png, Forex: EUR/JPY Technical Analysis – Selloff Gaining Momentum

Daily Chart - Created Using FXCM Marketscope 2.0

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

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