EUR/JPY Technical Analysis- Prices broke above resistance at a falling trend line set from the May swing high, exposing the 38.2% Fibonacci expansion at 130.72. A further push above that aims for the 50% level at 132.50. Near-term support is at 128.51, the 23.6% expansion. Our short position has been stopped out.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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