Tanalys

EUR/JPY Technical Analysis 04.30.2013

EUR/JPY Technical Analysis– Prices broke support at 128.18, the 23.6% Fibonacci retracement, exposing the 38.2% level at 126.37. A further push beneath that aims for the 50% Fib at 124.91. The 128.18 mark has been recast as near-term resistance, with a reversal back above that targeting a falling trend line 129.25.

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

Exit mobile version