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EUR/JPY Technical Analysis – 4-Month Trend Line at Risk

Ilya Spivak

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Talking Points

  • Prices broke support at 132.58 (23.6% Fib), exposing 131.12-30 (38.2% Fib, trend line)
  • Continued selling below 131.12 targets 129.94 (50% Fib)
  • The 132.58 level has been recast as near-term resistance

Confirm your chart-based trade setups with the Technical Analyzer.

dailyclassics_eur-jpy_body_Picture_12.png, EUR/JPY Technical Analysis – 4-Month Trend Line at Risk

Daily Chart - Created Using FXCM Marketscope 2.0

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

Contact and follow Ilya on Twitter: @IlyaSpivak

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