Filed Under:
EUR/JPY Technical Analysis - Prices broke lower as expected after putting in a Bearish Engulfing candlestick pattern. Prices are testing support at 129.76, the 38.2% Fibonacci retracement, with a push beneath that targeting the 50% mark at 128.84. Near-term resistance is at 130.90, the 23.6% Fib. A reversal above that eyes a rising trend line at 132.04.

Confirm your chart-based trade setups with the Technical Analyzer.

dailyclassics_eur-jpy_body_Picture_11.png, EUR/JPY Technical Analysis: Prices Aim Below 129.00 Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for

To contact Ilya, e-mail Follow Ilya on Twitter at @IlyaSpivak

To be added to Ilya's e-mail distribution list, please CLICK HERE

New to FX? Watch this Video. For live market updates, visit the Real Time News Feed

original source
comments powered by Disqus
Trading Center