U.S. Markets closed

Forex: EUR/JPY Technical Analysis – Euro Retakes 130.00 Figure

Ilya Spivak

EUR/JPY Technical Analysis - Prices launched a sharp recovery, pushing above resistance at the 23.6% Fibonacci expansion (129.80) to expose the 38.2% mark at 130.93. This barrier is reinforced by a falling trend line set from late July (now at 131.08). A push above that eyes the 50% Fib at 131.85. Alternatively, a move back beneath 129.80 support is at 127.96, the August 12 low.

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

dailyclassics_eur-jpy_body_Picture_11.png, Forex: EUR/JPY Technical Analysis – Euro Retakes 130.00 Figure

Daily Chart - Created Using FXCM Marketscope 2.0

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

To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak

To be added to Ilya's e-mail distribution list, please CLICK HERE

New to FX? Watch this Video. For live market updates, visit the Real Time News Feed

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from FXCM.