EUR/JPY Technical Analysis – Prices have launched a sharp recovery, pushing above resistance at the 23.6% Fibonacci expansion (129.80) to expose the 38.2% mark at 130.93. A further push above that eyes the 50% Fib at 131.85. Near-term support is at 127.96, the August 12 low.
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Daily Chart – Created Using FXCM Marketscope 2.0
— Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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