EUR/JPY Technical Analysis - Prices are pushing higher to test resistance at 130.93, a level marked by the 38.2% Fibonacci expansion and reinforced by a falling trend line set from late July. A break higher exposes the 50% Fib at 131.85. Near-term support is at 129.80, the 23.6% retracement, with a reversal beneath that eyeing the August 12 low at 127.96.
Confirm your chart-based trade setups with the Technical Analyzer.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail email@example.com. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya's e-mail distribution list, please CLICK HERE
- Finance Trading
- Basic Materials Industry
- Technical Analysis