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EUR/JPY Technical Analysis 02.01.2013

EUR/JPY Technical Analysis 02.01.2013

Ilya Spivak, Head Strategist, APAC

EUR/JPY Technical Analysis- Prices broke above resistance at 125.67, 76.4% Fibonacci expansion, exposing the 100% level at 127.08. The 125.67 mark has been recast as near-term support, with a reversal back below that targeting the 61.8% expansion at 124.83.

Forex_EURJPY_Technical_Analysis_02.01.2013_body_Picture_1.png, EUR/JPY Technical Analysis 02.01.2013

4hr 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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