EUR/JPY Technical Analysis- Prices broke support marked by a rising trend line set from mid-November 2012 and the 32.8% Fibonacci retracementat 128.19. Sellers have now cleared the 50% level at 126.45, exposing the 61.8% Fib at 124.72. A further push beneath that eyes the 76.4% Fib at 122.57. Alternatively, a close back above 126.45 targets the 38.2% retracement at 128.19.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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