EUR/JPY Technical Analysis– Prices are testing below resistance-turned-support at 130.11, the 150% Fibonacci expansion. A break lower that eyes the 138.2% Fibat 129.25.Near-term resistance is at 130.97, the 161.8% level, with a reversal above that targeting the 176.4% expansion at 132.04.
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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