Forex Analysis: EUR/JPY Classic Technical Report 01.30.2013

Prices are testing above resistance at 123.31, the major April 2011 swing high. A confirmed break higher targets the 38.2% Fibonacci expansion at 124.91. Near-term support is at 121.87, the 23.6% level. A break below that exposes the 120.00 figure.

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com

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