Forex: EUR/JPY Technical Analysis – Support Seen Above 131.00

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Talking Points

  • Prices are bouncing from 131.12 (23.6% Fib) to retest broken trend line support (131.68)
  • A close above the trend line initially exposes 132.58 (23.6% Fibonacci retracement)
  • Breaking below 131.12 targets 129.94 (50% Fib)

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dailyclassics_eur-jpy_body_Picture_11.png, Forex: EUR/JPY Technical Analysis – Support Seen Above 131.00

Daily Chart - Created Using FXCM Marketscope 2.0

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

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