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Forex: EUR/JPY Technical Analysis – Bearish Signal Still Valid

Ilya Spivak


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Talking Points


  • A Bearish Engulfing candle setup, Rising Wedge pattern hint at reversal lower
  • Initial support is at 133.10 (23.6% Fib); a break below that eyes 132.42 (Wedge bottom)
  • Near-term resistance is in the 135.50-77 area (Oct 22 high, Wedge top)


Confirm your chart-based trade setups with the Technical Analyzer.


dailyclassics_eur-jpy_body_Picture_11.png, Forex: EUR/JPY Technical Analysis – Bearish Signal Still Valid

Daily Chart - Created Using FXCM Marketscope 2.0




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


Contact and follow Ilya on Twitter: @IlyaSpivak


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