EUR/JPY Technical Analysis- Prices are testing resistance at 122.14, the 38.2% Fibonacci retracement. A break higher exposes the 50% level at 123.20, a barrier reinforced by a falling trend line at 123.87. Near-term support is at 120.83, the 23.6% Fib. A drop beneath that aims for the February 25 low at 118.71.
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
To be added to Ilya's e-mail distribution list, please CLICK HERE
New to FX? Watch this Video. For live market updates, visit the Real Time News Feed
