Forex: EUR/JPY Technical Analysis – Channel Bottom at Risk

Ilya Spivak

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Talking Points

  • Prices are testing channel bottom support at 133.13
  • A break lower initially targets the 38.2% Fib retracement at 132.27
  • Resistance is at 133.29 (23.6% Fib), followed by 134.94 (Sep 19 high)

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

dailyclassics_eur-jpy_body_Picture_11.png, Forex: EUR/JPY Technical Analysis – Channel Bottom at Risk
dailyclassics_eur-jpy_body_Picture_11.png, Forex: EUR/JPY Technical Analysis – Channel Bottom at Risk

Daily Chart - Created Using FXCM Marketscope 2.0

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

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