Forex: EUR/JPY Technical Analysis – Channel Top Caps Rally

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Talking Points

  • Prices recoiled from channel resistance to test below support in the 132.62-77 area
  • Sellers now challenge 131.85 (50% Fib). Break lower targets 130.93 (38.2% Fib)
  • A move back above 132.77 (61.8% Fib) aims for the channel top, now at 133.47

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dailyclassics_eur-jpy_body_Picture_11.png, Forex: EUR/JPY Technical Analysis – Channel Top Caps Rally

Daily Chart - Created Using FXCM Marketscope 2.0

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

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