EUR/JPY Technical Analysis– Prices are testing above the 123.6% Fibonacci expansion at 128.18. A break above that targets the 138.2% level at 129.25. Near-term support is at 126.45, 100% Fib, with a reversal back beneath that eyeing the 76.4% expansion at 124.72.
Daily Chart – Created Using FXCM Marketscope 2.0
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— Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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