EUR/JPY Technical Analysis- Prices put in a bearish Dark Cloud Cover candlestick, hinting a move lower is ahead. Initial support is at 120.67, the 23.6% Fibonacci retracement. A break below that targets the 38.2% level at 116.78. Near-term resistance is at 126.96, the February 1 high.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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