Trade FOREX with FXCM

  • Award-Winning Platform
  • 24/7 Customer Support
  • Trade Directly on Charts
  • Free $50K Practice Account

Resources

Forex: EUR/JPY Technical Analysis – A Top Set Above 135.00?

By , Currency Strategist
24 October 2013 12:04 GMT

To receive Ilya's analysis directly via email, please SIGN UP HERE

Talking Points

  • A Bearish Engulfing candle setup, Rising Wedge pattern hint at reversal lower
  • Initial support is at 133.10 (23.6% Fib); a break below that eyes 132.12 (Wedge bottom)
  • Near-term resistance is in the 135.50-62 area (Oct 22 high, Wedge top)

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

dailyclassics_eur-jpy_body_Picture_11.png, Forex: EUR/JPY Technical Analysis – A Top Set Above 135.00?

Daily Chart - Created Using FXCM Marketscope 2.0

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

Contact and follow Ilya on Twitter: @IlyaSpivak

New to FX? Watch this Video

For live market updates, visit the Real Time News Feed

provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from

24 October 2013 12:04 GMT