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Forex Analysis: EUR/JPY Classic Technical Report 01.04.2013

Forex Analysis: EUR/JPY Classic Technical Report 01.04.2013

Ilya Spivak, Head Strategist, APAC

Prices pulled back from resistance at 115.28, the 38.2%Fibonacci expansion, to form a Bearish Engulfing candlestick pattern. Near-term support is at 113.50, the 23.6% level. A break below that exposes the 14.6% expansionat 112.39. Alternatively, a reversal above resistance eyes the 50% Fib at 116.71.

Forex_Analysis_EURJPY_Classic_Technical_Report_01.04.2013_body_Picture_1.png, Forex Analysis: EUR/JPY Classic Technical Report 01.04.2013

Daily Chart - Created Using FXCM Marketscope 2.0

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

To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak

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