Tanalys

EUR/JPY Technical Analysis 06.05.2013

EUR/JPY Technical Analysis– Prices declined as expected to test falling trend line resistance-turned-support set from early April, now at 129.52. A break below that exposes the 38.2% Fibonacci retracementat 128.19. Near-term resistance is at 133.81, the May 22 high.

Daily Chart – Created Using FXCM Marketscope 2.0

Written by Ilya Spivak, Currency Strategist for Dailyfx.com

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