EUR/JPY Technical Analysis – Prices broke above resistance at 130.72, the 38.2% Fibonacci expansion, exposing the 50% level at 132.50. A further push above that aims for the 61.8% Fib at 134.28. Alternatively, a move back below 130.72 aims for trend line support at 129.67.
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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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