EUR/JPY Technical Analysis – Prices are testing below support at 130.90, the 23.6% Fibonacci expansion, with a break lower on a daily closing basis exposing the 38.2% level at 129.76. Near-term resistance is at 131.60, the 14.6% Fib. A reversal above that eyes rising trend line support-turned-resistance now at 132.66.
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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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