EUR/JPY Technical Analysis– Prices are testing support at 128.18, the 23.6% Fibonacci retracement. A break below this barrier aims for the 38.2% level at 123.37. Near-term trend line resistance is at 129.55, with a push above that initially eyeing the 50% Fib expansion at 131.15.
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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