EUR/JPY Technical Analysis- Prices are testing resistance at 122.14, the 38.2% Fibonacci retracement. A break higher exposes the 50% level at 123.20, a barrier reinforced by a falling trend line at 123.87. Near-term support is at 120.83, the 23.6% Fib. A drop beneath that aims for the February 25 low at 118.71.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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