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EUR/JPY Technical Analysis: Prices Forced Back Sub-130.00

Ilya Spivak

EUR/JPY Technical Analysis- Prices are pulling back from resistance at 130.72, the 38.2% Fibonacci expansion. Near-term support is at 128.51, the 23.6% level, with a drop beneath that eyeing the 14.6% Fib at 127.15. Alternatively, a move above resistance exposes the 50% expansion at 132.50.

dailyclassics_eur-jpy_body_Picture_11.png, EUR/JPY Technical Analysis: Prices Forced Back Sub-130.00

Daily Chart - Created Using FXCM Marketscope 2.0

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

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