Tanalys

EUR/JPY Technical Analysis 05.06.2013

EUR/JPY Technical Analysis– Prices are testing resistance at 130.05, the top of a Triangle chart pattern carved out since mid-April. A break above that targets the April 11 high at 131.11. Support is in the 127.70-85 area, marked by the February 6 high and the Trianglebottom. A push beneath that aims for the March 8 top at 126.03.

Daily Chart – Created Using FXCM Marketscope 2.0

Written by Ilya Spivak, Currency Strategist for Dailyfx.com

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