EUR/JPY Technical Analysis- Prices bounced from support above 124.72, the 61.8% Fibonacci retracement, to break back above the 50% level at 126.45. The bulls are now aims to challenge the 38.2% Fib at 128.19, with a further push beyond that eyeing falling trend line resistance at 130.25. The 126.45 mark has been recast as near term support.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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