Forex: EUR/JPY Technical Analysis – Euro Tries Building Higher

DailyFX

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.

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dailyclassics_eur-jpy_body_Picture_11.png, Forex: EUR/JPY Technical Analysis – Euro Tries Building Higher

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

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