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EUR/JPY Technical Analysis: Bears Poised to Clear 129.00

Ilya Spivak

EUR/JPY Technical Analysis - Prices are testing below support at 129.35, the 38.2% Fibonacci expansion, with a break confirmed on a daily closing basis exposing the 50% level at 128.31. Near-term resistance is at 130.65, the 23.6% Fib. A recovery above that initially targets the 14.6% expansion at 131.44.

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dailyclassics_eur-jpy_body_Picture_10.png, EUR/JPY Technical Analysis: Bears Poised to Clear 129.00

Daily Chart - Created Using FXCM Marketscope 2.0

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

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