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EUR/JPY Technical Analysis: Yen Gains to Monthly High

Ilya Spivak

EUR/JPY Technical Analysis - Prices are testing support at 128.31, the 50% Fibonacci expansion, with a break confirmed on a daily closing basis exposing the 61.8% level at 127.26. Near-term resistance is at 129.35, the 38.2% Fib. A recovery above that initially targets the 23.6% expansion at 130.65.

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dailyclassics_eur-jpy_body_Picture_11.png, EUR/JPY Technical Analysis: Yen Gains to Monthly High

Daily Chart - Created Using FXCM Marketscope 2.0

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

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