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Forex: EUR/JPY Technical Analysis – Neckline Support Broken

By , Currency Strategist
14 January 2014 03:46 GMT

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Talking Points

  • Prices broke neckline support (now at 141.74), exposing 140.15 (38.2% Fib ret.)
  • A further push beneath that targets 138.44 (50% Fib ret.)
  • Reversing back above 141.74 initially aims for 143.16 (Jan 8 swing high)

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dailyclassics_eur-jpy_body_Picture_12.png, Forex: EUR/JPY Technical Analysis – Neckline Support Broken

Daily Chart - Created Using FXCM Marketscope 2.0

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

Contact and follow Ilya on Twitter: @IlyaSpivak

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14 January 2014 03:46 GMT