EUR/JPY Technical Analysis– Prices are testing above resistance at 129.69, the 38.2% Fibonacci expansion. A break above that aims for the 50% level at 131.15. Near-term support is at 127.88, the 23.6% Fib.
Daily Chart – Created Using FXCM Marketscope 2.0
Want to back-test your technical trading strategy? Download the historical data here.
— Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya’s e-mail distribution list, please CLICK HERE
New to FX? Watch this Video. For live market updates, visit the Real Time News Feed