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Forex: EUR/JPY Technical Analysis – Support Seen Sub-130.00

Ilya Spivak

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EUR/JPY Technical Analysis - Prices moved lower as expected after putting in a Shooting Star candlestick below resistance at a falling trend line set from late May. The pair is now testing support at 129.76, the 38.2% Fibonacci retracement. A break below that eyes the 50% Fib at 128.84. Near-term resistance is at 130.90, the 23.6% retracement.

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dailyclassics_eur-jpy_body_Picture_11.png, Forex: EUR/JPY Technical Analysis – Support Seen Sub-130.00

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

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