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EUR/JPY Technical Analysis: Bears Fail to Break 128.00

Ilya Spivak

EUR/JPY Technical Analysis- Prices are retesting trend line support-turned-resistance set from early April, with a break higher targeting the 61.8% Fibonacci retracementat 130.88. Near-term support is at 128.19. A reversal below that aims for 126.45.

dailyclassics_eur-jpy_body_Picture_11.png, EUR/JPY Technical Analysis: Bears Fail to Break 128.00

Daily Chart - Created Using FXCM Marketscope 2.0

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

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