EUR/JPY Technical Analysis– Prices are testing below support at 131.65, the 14.6% Fibonacci retracement. A break below that targets the 23.6% level at 130.34. Near-term resistance is at 133.79, the May 22 swing high. Negative RSI divergence argues in favor of a downside scenario.
Daily Chart – Created Using FXCM Marketscope 2.0
— Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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