U.S. Markets closed

Forex: EUR/JPY Technical Analysis – Euro May Turn Lower

Ilya Spivak


To receive Ilya's analysis directly via email, please SIGN UP HERE


EUR/JPY Technical Analysis - Prices put in a Shooting Star candlestick below resistance in the 131.85-132.23 area, marked by falling trend line and the 50% Fibonacci expansion, hinting a move lower may be ahead. Near-term support is at 130.93, the 38.2% level, with a drop beneath that eyeing the 23.6% Fib at 129.80. Alternatively, a move above resistance eyes the next upside barriers at 132.77 and 133.91, the 61.8% and 76.4% retracements respectively.


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


dailyclassics_eur-jpy_body_Picture_11.png, Forex: EUR/JPY Technical Analysis – Euro May Turn Lower

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


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.