EUR/JPY Technical Analysis- Prices broke support at 128.18, the 23.6% Fibonacci retracement, exposing the 38.2% level at 126.37. A further push beneath that aims for the 50% Fib at 124.91. The 128.18 mark has been recast as near-term resistance, with a reversal back above that targeting a falling trend line 129.25.
Daily Chart - Created Using FXCM Marketscope 2.0
Want to back-test your technical trading strategy? Download the historical data here.
--- 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